FORT WORTH, Texas, April 11 /PRNewswire-FirstCall/ -- D.R. Horton, Inc.
(NYSE: DHI), America's Builder, the largest homebuilder in the United States,
Tuesday (April 11, 2006), reported the highest quarterly net sales orders in
Company history. Net sales orders for the second quarter ended March 31, 2006
increased 10% to 15,771 homes ($4.4 billion), compared to 14,401 homes ($4.1
billion) for the same quarter of fiscal year 2005. Net sales orders for the
first six months of fiscal year 2006 increased 12% to 27,234 homes ($7.5
billion), compared to 24,302 homes ($6.8 billion) for the same period of
fiscal year 2005.
Donald R. Horton, Chairman of the Board, said, "We are very pleased with
our 10% increase in net sales orders for the quarter. We had positive sales
growth in every region of the Company, except the Midwest where we have only
two markets. The Company's double-digit sales momentum and our record sales
backlog continue to position the Company for another record year in fiscal
year 2006."
D.R. Horton, Inc., America's Builder, is the largest homebuilder in the
United States, delivering more than 51,000 homes in its fiscal year ended
September 30, 2005. Founded in 1978 in Fort Worth, Texas, D.R. Horton has
expanded its presence to include 77 markets in 26 states in the Mid-Atlantic,
Midwest, 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 $90,000 to over $900,000. D.R. Horton also provides
mortgage financing and title services for homebuyers through its mortgage and
title subsidiaries.
Portions of this document may constitute "forward-looking statements" as
defined by the Private Securities Litigation Reform Act of 1995. Although
D.R. Horton believes any such statements are based on reasonable assumptions,
there is no assurance that actual outcomes will not be materially different.
All forward-looking statements are based upon information available to D.R.
Horton on the date this release was issued. D.R. Horton does not undertake
any obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise. Forward-
looking statements in this release relate to the Company's sales momentum and
strong backlog positioning the Company for another record year in fiscal 2006.
Factors that may cause the actual results to be materially different from the
future results expressed by the forward-looking statements include, but are
not limited to: changes in general economic, real estate and other conditions;
changes in interest rates, the availability of mortgage financing or increases
in the costs of owning a home; governmental regulations and environmental
matters; our substantial debt; competitive conditions within the industry; the
availability of capital to the Company on favorable terms; the Company's
ability to effect its growth strategies successfully; and warranty and product
liability claims. Additional information about issues that could lead to
material changes in performance is contained in D.R. Horton's annual report on
Form 10-K and most recent quarterly reports on Form 10-Q, which are filed with
the Securities and Exchange Commission.
WEBSITE ADDRESS: http://www.DRHORTON.com
D.R. HORTON, INC.
($'s in millions)
NET SALES ORDERS
Three months ended March 31,
2005 2006
Homes $'s Homes $'s
Mid-Atlantic 1,263 $346.2 1,373 $336.9
Midwest 877 224.4 593 169.0
Southeast 1,974 498.0 2,449 585.9
Southwest 5,638 1,109.8 6,358 1,280.8
West 4,649 1,920.2 4,998 1,990.6
14,401 $4,098.6 15,771 $4,363.2
Six months ended March 31,
2005 2006
Homes $'s Homes $'s
Mid-Atlantic 2,300 $623.1 2,484 $626.4
Midwest 1,306 349.2 1,151 325.4
Southeast 3,733 908.6 4,269 1,065.4
Southwest 9,576 1,848.6 11,141 2,295.1
West 7,387 3,024.9 8,189 3,217.7
24,302 $6,754.4 27,234 $7,530.0
SOURCE:
D.R. Horton, Inc.
CONTACT: Stacey Dwyer, EVP of D.R. Horton, Inc., +1-817-390-8200
Web site: http://www.drhorton.com
