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DR Horton Reports Narrowed Quarterly Loss of $231.9 Million (DHI)

Posted on: Fri, 20 Nov 2009 08:51:00 EST

Symbols: DHI

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Nov 20, 2009 (SmarTrend(R) News Watch via COMTEX) --
DHI | Quote | Chart | News | PowerRating -- 11/20/2009-D.R. Horton (NYSE:DHI) reported a fiscal Q4 loss of $0.73 per share, missing consensus estimates for a loss of $0.30.

Revenues in the quarter fell 42% to $1.01 billion, and came in short of consensus estimates of $1.11 billion.

Inventory writedown costs totaled $192.6 million pretax, vs. $1.1 billion in the year-ago quarter.

The company said the company's net sales orders and backlog both rose during the quarter as homes closed totaled 4,810, vs. 6,961 homes closed in the same quarter of fiscal 2008.

Write to Chip Brian at cbrian@tradethetrend.com

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