|D.R. Horton Third Quarter 2011 Numbers|
|Quarter Three||Fiscal Year|
|Profit/(Loss)||$35.7 M +500%||$71.8 M -71%|
|Home Deliveries||4,987 +16%||16,695 -20%|
|New Orders||4,241 +7%||17,421 -10%|
Behind the Numbers:
D.R. Horton closed out its second profitable fiscal year in a row on Sept. 30, despite delivering 20% fewer homes. Granted the profit was considerably smaller than last year, but the company made a lot of progress cutting costs, which should pay off in the year to come. It lowered its sales expenses by $43.2 million and significantly dropped its debt to 18% of capital, lowering its interest expense by $35.8 million for the year. Even after debt repayments, Horton had $714.5 million in cash on hand.