FORT WORTH TX , Nov. 20, 2009 (Business Wire) - D.R. Horton, Inc. reported a net loss for its fourth fiscal quarter ended September 30, 2009 of $231.9 million, or $0.73 per diluted share. The quarterly results included $192.6 million in pre-tax charges to cost of sales for inventory impairments and write-offs of deposits and pre-acquisition costs related to land option contracts that the Company does not intend to pursue. The net loss for the same quarter of fiscal 2008 was $799.9 million, or $2.53 per diluted share, which included $1.1 billion in pre-tax charges to cost of sales for impairments of owned inventory and land and lots that were sold during the quarter and for write-offs of deposits and pre-acquisition costs related to land option contracts.
Wood News Service subscribers - click here to read the full article.
Not a subscriber?
