D.R. Horton Q1 Profit Increases - Quick Facts

(RTTNews) - D.R. Horton Inc. (DHI) reported that net income for its first fiscal quarter ended December 31, 2014 increased to $142.5 million or $0.39 per share, from $123.2 million or $0.36 per share in the same quarter of fiscal 2014. Analysts polled by Thomson Reuters expected the company to report earnings of $0.34 per share for the quarter. Analysts' estimates typically exclude special items.

Homebuilding revenue for the first quarter of fiscal 2015 increased 38% to $2.3 billion from $1.6 billion in the same quarter of fiscal 2014. Homes closed in the quarter increased 29% to 7,973, compared to 6,188 homes in the prior year quarter.

Net sales orders for the first quarter ended December 31, 2014 increased 35% to 7,370 homes and 40% in value to $2.1 billion, compared to 5,454 homes and $1.5 billion in the prior year quarter.

Revenues for the quarter grew to $2.253 billion from $1.636 billion in the prior year. Wall Street expected revenues of $2.08 billion for the quarter.

The company has declared a quarterly cash dividend of $0.0625 per common share. The dividend is payable on February 17, 2015 to stockholders of record on February 6, 2015.

Donald Horton, Chairman of the Board, said, "We remain intently focused on growing revenues and profits at a double-digit pace, while generating improved returns and cash flows."