D.R. Horton, Inc., America's Builder, Reports a 10% Increase in Net Sales

   

 

FORT WORTH, Texas, April 11  -- D.R. Horton, Inc.
(NYSE: DHI), America's Builder, the largest homebuilder in the United
States, Tuesday (April 11, 2006), reported the highest quarterly net sales
orders in Company history. Net sales orders for the second quarter ended
March 31, 2006 increased 10% to 15,771 homes ($4.4 billion), compared to
14,401 homes ($4.1 billion) for the same quarter of fiscal year 2005. Net
sales orders for the first six months of fiscal year 2006 increased 12% to
27,234 homes ($7.5 billion), compared to 24,302 homes ($6.8 billion) for
the same period of fiscal year 2005.


Donald R. Horton, Chairman of the Board, said, "We are very pleased
with our 10% increase in net sales orders for the quarter. We had positive
sales growth in every region of the Company, except the Midwest where we
have only two markets. The Company's double-digit sales momentum and our
record sales backlog continue to position the Company for another record
year in fiscal year 2006."
D.R. Horton, Inc., America's Builder, is the largest homebuilder in the
United States, delivering more than 51,000 homes in its fiscal year ended
September 30, 2005. Founded in 1978 in Fort Worth, Texas, D.R. Horton has
expanded its presence to include 77 markets in 26 states in the
Mid-Atlantic, Midwest, 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 $90,000 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 positioning the
Company for another record year in fiscal 2006. 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 other conditions; changes in interest
rates, the availability of mortgage financing or increases in the costs of
owning a home; governmental regulations and environmental matters; our
substantial debt; competitive conditions within the industry; the
availability of capital to the Company on favorable terms; the Company's
ability to effect its growth strategies successfully; and warranty and
product liability claims. 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.
WEBSITE ADDRESS: http://www.DRHORTON.com



D.R. HORTON, INC.
($'s in millions)

NET SALES ORDERS

Three months ended March 31,

2005 2006
Homes $'s Homes $'s

Mid-Atlantic 1,263 $346.2 1,373 $336.9

Midwest 877 224.4 593 169.0

Southeast 1,974 498.0 2,449 585.9

Southwest 5,638 1,109.8 6,358 1,280.8

West 4,649 1,920.2 4,998 1,990.6

14,401 $4,098.6 15,771 $4,363.2



Six months ended March 31,

2005 2006
Homes $'s Homes $'s

Mid-Atlantic 2,300 $623.1 2,484 $626.4

Midwest 1,306 349.2 1,151 325.4

Southeast 3,733 908.6 4,269 1,065.4

Southwest 9,576 1,848.6 11,141 2,295.1

West 7,387 3,024.9 8,189 3,217.7

24,302 $6,754.4 27,234 $7,530.0



SOURCE D.R. Horton, Inc.
Web Site: http://www.drhorton.com

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