D.R. Horton Posts Higher Q4 Profit - Quick Facts

(RTTNews) - D.R. Horton, Inc.'s (DHI) fourth-quarter net income advanced to $139.5 million, or $0.40 per share, from $100.1 million, or $0.30 per share, in the same quarter of fiscal 2012. On average, 20 analysts polled by Thomson Reuters expected earnings per share of $0.40 for the quarter. Analysts' estimates typically exclude one-time items. The company said the prior year results included a non-cash tax benefit of $36.5 million from a reduction of its valuation allowance on its deferred tax assets.

For the quarter, pre-tax income for its fourth fiscal quarter ended September 30, 2013 increased 104% to $202.8 million, compared to $99.2 million in the same quarter of fiscal 2012.

Homebuilding revenue for the fourth quarter of fiscal 2013 rose 40% to $1.8 billion from $1.3 billion last year, while 12 analysts estimated $1.78 billion of revenues. Homes closed in the quarter increased 23% to 6,866, from 5,575 homes in the year-ago quarter.