DR Horton Posts $800 Million Loss

D.R. Horton Inc. (DHI) reported a nearly $800 million loss in its fiscal fourth quarter on slower home sales and more than $1 billion in charges amid a troubled housing market.

The homebuilder reported a net loss of $799.9 million, or $2.53 a share, compared to a loss of $50.1 million or 16 cents a share, in the year-ago period. Total sales for the quarter were $1.75 billion, down from $3.12 billion in the fourth quarter 2007.

Revenue fell 44% but it still beat analysts' expectations. Analysts had forecast a loss of $1.88 a share on revenue of $1.7 billion. The company said total home sales during the quarter tumbled 41 percent to 6,961.

by Mark Anderson | 11/25/08 | Stocks: DHI,

Post a Comment

blog comments powered by Disqus

DJIA	8,423.20	-106.18	-1.24%
NASDAQ	1,830.82	-13.24	-0.72%
S&P 500	915.53	-11.70	-1.26%


	Can Citigroup Be Saved? Citigroup Inc. (C) announced that it is making plans to planning to increase the number of its common shares outstanding and execute a reverse stock split as part of its effort to convert preferred shares to common shares. Citi is seeking to exchange about $27.5 billion in public and private preferred securities as part of its agreement with the Treasury Department, which has pledged to match up to $25 billion of the conversions. This deal represents the government's third attempt... continue

Get Our RSS Feeds

Subscribe to our RSS feed and you will receive all the articles by InvestorPlace Blogs contributors. Each contributor has their own RSS feed on their blog if you want to just follow specific people.

DR Horton Posts $800 Million Loss

Post a Comment

Can Citigroup Be Saved?

Get Our RSS Feeds