| D.R. Horton Third Quarter 2011 Numbers | ||
|---|---|---|
| Quarter Three | Fiscal Year | |
| Profit/(Loss) | $35.7 M +500% | $71.8 M -71% |
| Home Deliveries | 4,987 +16% | 16,695 -20% |
| New Orders | 4,241 +7% | 17,421 -10% |
Behind the Numbers:
D.R. Horton closed out its second profitable fiscal year in a row on Sept. 30, despite delivering 20% fewer homes. Granted the profit was considerably smaller than last year, but the company made a lot of progress cutting costs, which should pay off in the year to come. It lowered its sales expenses by $43.2 million and significantly dropped its debt to 18% of capital, lowering its interest expense by $35.8 million for the year. Even after debt repayments, Horton had $714.5 million in cash on hand.
