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D.R. Horton, Inc. Reports a 31% Increase in Net Sales
Orders for the First Quarter of Fiscal Year 2005
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.
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.
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