Horton Reports Banner Earnings Citing Robust Demand and Favorable Pricing

Hot news from AZ Home Help:

Posted To: MND NewsWire

Fort Worth based homebuilder D. R. Horton reported financial results for its second quarter that dwarfed results from a year earlier. The company's net income for the quarter ended March 31 increased 173 percent to 111.0 million or $0.32 per diluted share compared to net income for the second quarter of 2012 of $40.6 million or $0.13 per share. Pretax income increased 236 percent to $142.1 million and its pre-tax income margin was up 550 basis points to 9.9 percent of revenues. Net sales orders rose 34 percent to 7,879 homes from 5,899 homes and closed transactions grew by 33 percent to 5,643 homes with a value of $1.4 billion, up 47 percent. The backlog in sales increased 54 percent in numbers of homes, 9,553 compared to 6,189 a year earlier, and 76 percent in the value of those homes, $2...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/04262013_home_building_home_sales.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com