ARLINGTON, Texas, May 29 /PRNewswire-FirstCall/ -- D.R. Horton, Inc.
(NYSE: DHI) Thursday (May 29, 2003) announced that it has increased guidance
for estimated diluted earnings per share for the fiscal year ended
September 30, 2003, by $0.25. The Company's previously issued guidance for
diluted earnings per share for fiscal 2003 was $3.60-$3.65. The newly-issued
guidance, which is based upon continued strong sales and a sales contract
backlog that continues at a record level for the homebuilding industry, is
$3.85-$3.90 per diluted share. The Company expects that most of the increase
in diluted earnings per share will occur in its fourth fiscal quarter, which
ends on September 30, 2003.
Founded in 1978, D.R. Horton, Inc. is engaged in the construction and sale
of high quality homes designed principally for the entry-level and first time
move-up markets. D.R. Horton currently builds and sells homes under the D.R.
Horton, Arappco, Cambridge, Continental, Dietz-Crane, Dobson, Emerald, Melody,
Milburn, Schuler, SGS Communities, Stafford, Torrey, Trimark, and Western
Pacific names in 20 states and 44 markets, with a geographic presence in the
Midwest, Mid-Atlantic, Southeast, Southwest and Western regions of the United
States. The Company 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. 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;
governmental regulations and environmental matters; the Company's substantial
leverage; competitive conditions within the industry; the availability of
capital to the Company on favorable terms; the Company's ability to integrate
its 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 the most recent Form
10-Q, both of which were filed with the Securities and Exchange Commission.
www.DRHORTON.com
SOURCE D.R. Horton, Inc.
