D.R. HortonInc. logged net income of $249.8 million, or 66 cents per share,for the fiscal third quarter ended June 30, reflecting a 13% increase from$221.4 million, or 60 cents per share in the year-ago period.
The S&P Capital IQ consensus EPS estimate for the fiscalthird quarter was 66 cents.
Homebuilding revenue for the third quarter was approximately$3.12 billion, up 9% from approximately $2.86 billion in the third quarter of2015. Homes closed during the quarter also increased 9% to reach 10,739, upfrom 9,856 in the year-ago period.
Net sales orders were up 13% to 11,714 homes compared to10,398 homes in the year-ago period, and the value of net sales ordersincreased 14% to approximately $3.44 billion from approximately $3.01 billionin the third quarter of 2015.
The company's sales-order backlog for homes was 15% higheryear over year with 14,670 homes under contract at the end of the quarter, andthe backlog value of $4.4 billion was 17% above year-ago levels.
Net cash from operations for the first nine months of thefiscal year was $88.6 million.
The homebuilder declared a quarterly cash dividend of 8cents per common share, payable Aug. 19 to stockholders on record as of Aug. 8.