FORT WORTH, Texas, Jan 11, 2005 /PRNewswire-FirstCall via COMTEX/ -- D.R. Horton, Inc.
(NYSE: DHI) Tuesday (January 11, 2005) reported record first quarter net sales
orders. Net sales orders for the quarter ended December 31, 2004 increased
31% to $2.7 billion (9,901 homes) compared to $2.0 billion (8,234 homes) for
the same quarter of fiscal year 2004.
(Logo: http://www.newscom.com/cgi-bin/prnh/20040722/DHILOGO )
Donald R. Horton, Chairman of the Board, said, "We are extremely pleased
that every region reported increased sales. Our continued sales momentum and
strong backlog position the Company for another record year in fiscal 2005."
D.R. Horton, Inc., America's Builder, is the largest homebuilder in the
United States, delivering more than 43,000 homes in its fiscal year ended
September 30, 2004. Founded in 1978 in Fort Worth, Texas, D.R. Horton has
expanded its presence to include 63 markets in 21 states in the Midwest, Mid-
Atlantic, Southeast, Southwest and Western regions of the United States. The
Company is engaged in the construction and sale of high quality homes with
sales prices ranging from $80,000 to over $900,000. D.R. Horton also provides
mortgage financing and title services for homebuyers through its mortgage and
title subsidiaries.
Portions of this document may constitute "forward-looking statements" as
defined by the Private Securities Litigation Reform Act of 1995. Although
D.R. Horton believes any such statements are based on reasonable assumptions,
there is no assurance that actual outcomes will not be materially different.
All forward-looking statements are based upon information available to D.R.
Horton on the date this release was issued. D.R. Horton does not undertake
any obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise. Forward-
looking statements in this release relate to the Company's sales momentum and
strong backlog at December 31, 2004 positioning the Company for another record
year in fiscal 2005. Factors that may cause the actual results to be
materially different from the future results expressed by the forward-looking
statements include, but are not limited to: changes in general economic, real
estate and business conditions; changes in interest rates and the availability
of mortgage financing; warranty and product liability claims; our substantial
debt; governmental regulations and environmental matters; competitive
conditions within the industry; the availability of capital to the Company on
favorable terms; the Company's ability to integrate acquisitions and
successfully effect the cost savings, operating efficiencies and revenue
enhancements that are believed available and otherwise to successfully effect
its other growth strategies. Additional information about issues that could
lead to material changes in performance is contained in D.R. Horton's annual
report on Form 10-K and most recent quarterly reports on Form 10-Q, which are
filed with the Securities and Exchange Commission.
D.R. HORTON, INC.
($ in millions)
NET SALES ORDERS
Quarter Ended December 31,
2003 2004
Homes $ Homes $
Mid-Atlantic 715 $166.7 1,037 $276.9
Midwest 411 125.2 429 124.8
Southeast 1,173 251.6 1,759 410.6
Southwest 3,280 554.8 3,938 738.8
West 2,655 935.4 2,738 1,104.6
Total 8,234 $2,033.7 9,901 $2,655.7
WEBSITE ADDRESS: http://www.DRHORTON.com
SOURCE D.R. Horton, Inc.
Stacey Dwyer, EVP of D.R. Horton, Inc., +1-817-856-8200
