D.R. Horton Climbs Most in Nine Months on Profit, Sales Gain

D.R. Horton Inc., the second-largest U.S. homebuilder by revenue, climbed the most in nine months after the company reported its first quarterly profit since 2007 on sales that exceeded analysts’ estimates.

The shares gained 11 percent to $13.18 at 10:27 a.m. New York time, the biggest intraday rise since April 15. The Standard & Poor’s Supercomposite Homebuilding Index rallied 5.6 percent, the most since Jan. 7.

D.R. Horton’s net income for the fiscal first quarter ended Dec. 31 was $192 million, or 56 cents a share, compared with a loss of $62.6 million, or 20 cents, a year earlier, the Fort Worth, Texas-based company said in a statement today. Homebuilding revenue climbed 23 percent to $1.1 billion. Analysts projected revenue of $958.8 million, according to the average of 11 estimates in a Bloomberg survey.

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- Posted: 2010-02-02 10:45:42

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