ARLINGTON, Texas (Hanley-Wood News Service) - D.R. Horton Inc. (NYSE: DHI) Tuesday (January 8, 2002) reported record sales for the first quarter of fiscal 2002. Net sales for the quarter ended December 31, 2001 increased 22% to 5,144 units ($1,021.4 million) compared to 4,229 units ($900.3 million) for the same period of fiscal year 2001. Donald R. Horton, chairman of the board, said, ''We are extremely pleased with the company's double-digit sales increase. The excellent sales results in our first quarter, combined with our strong backlog, provide a solid foundation for our 25th consecutive year of growth and profitability.''
Founded in 1978, D.R. Horton Inc. is engaged in the construction and sale of homes designed principally for the entry-level and first time move-up markets. The company currently builds and sells homes under the D.R. Horton, Arappco, Cambridge, Continental, Dietz-Crane, Dobson, Emerald, Mareli, Milburn, Regency, SGS Communities, Torrey, and Trimark names in 20 states and 38 markets, with a geographic presence in the Midwest, Mid-Atlantic, Southeast, Southwest and Western regions of the United States. The company also provides mortgage financing and title services for homebuyers through its subsidiaries CH Mortgage, DRH Title Company, Principal Title, Travis Title Company, Metro Title Company, Century Title Company, and Custom Title Company.