-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, QdL5G6Z7MiU5ltD9gKMBRbpxJhGxZ24xb9k7YX/HMecIKQYjj6w045O75Q2SWGMP w28F55AWrTVSr5Sg3BS5Xw== 0001362310-07-001301.txt : 20070710 0001362310-07-001301.hdr.sgml : 20070710 20070710093550 ACCESSION NUMBER: 0001362310-07-001301 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070710 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070710 DATE AS OF CHANGE: 20070710 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HORTON D R INC /DE/ CENTRAL INDEX KEY: 0000882184 STANDARD INDUSTRIAL CLASSIFICATION: OPERATIVE BUILDERS [1531] IRS NUMBER: 752386963 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14122 FILM NUMBER: 07970862 BUSINESS ADDRESS: STREET 1: D.R. HORTON TOWER STREET 2: 301 COMMERCE STREET, SUITE 500 CITY: FORT WORTH STATE: TX ZIP: 76102 BUSINESS PHONE: 8173908200 MAIL ADDRESS: STREET 1: D.R. HORTON TOWER STREET 2: 301 COMMERCE STREET, SUITE 500 CITY: FORT WORTH STATE: TX ZIP: 76102 8-K 1 c70770e8vk.htm FORM 8-K Filed by Bowne Pure Compliance
 

 
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 10, 2007

D.R. Horton, Inc.
(Exact name of registrant as specified in its charter)
         
Delaware   1-14122   75-2386963
(State or other Jurisdiction of Incorporation)   (Commission File Number)   (IRS Employer Identification No.)
     
301 Commerce Street, Suite 500, Fort Worth, Texas
  76102
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s telephone number, including area code: (817) 390-8200
 
Not Applicable
(Former name or former address if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 
 

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Item 2.02. Results of Operations and Financial Condition.

On July 10, 2007, D.R. Horton, Inc. issued a press release announcing its net sales orders for the third quarter ended June 30, 2007 and related earnings information for the quarter and nine months ended June 30, 2007. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference in its entirety into this Item 2.02.

The information furnished in this Item 2.02 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibit:

  99.1   Press Release dated July 10, 2007 related to the Company’s Net Sales Orders for the third quarter ended June 30, 2007 and related earnings information for the quarter and nine months ended June 30, 2007.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

D. R. Horton, Inc.

           
Date: July 10, 2007
  By:   /s/ Bill W. Wheat  
 
         
 
     

Bill W. Wheat
Executive Vice President
and Chief Financial Officer

 

     

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EXHIBIT INDEX

     
Exhibit    
Number   Description
 
   
99.1
  Press Release dated July 10, 2007

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EX-99.1 2 c70770exv99w1.htm EXHIBIT 99.1 Filed by Bowne Pure Compliance
 

Exhibit 99.1

         
 
      Stacey Dwyer, EVP
    301 Commerce Street, Ste. 500, Fort Worth, Texas 76102 
    817-390-8200 
    July 10, 2007 
 
D.R. HORTON, INC., AMERICA’S BUILDER, REPORTS NET SALES ORDERS FOR THE THIRD QUARTER OF FISCAL YEAR 2007
FORT WORTH, TEXAS - D.R. Horton, Inc. (NYSE:DHI), America’s Builder, the largest homebuilder in the United States, Tuesday (July 10, 2007), reported net sales orders for the third quarter ended June 30, 2007 of 8,559 homes ($2.0 billion), compared to 14,316 homes ($3.8 billion) for the same quarter of fiscal year 2006. Net sales orders for the first nine months of fiscal year 2007 totaled 27,313 homes ($6.9 billion), compared to 41,550 homes ($11.4 billion) for the same period of fiscal year 2006. The Company’s cancellation rate (sales orders cancelled divided by gross sales orders) for the third quarter of fiscal 2007 was 38%.
Donald R. Horton, Chairman of the Board, said, “Market conditions for new home sales declined in our June quarter as inventory levels of both new and existing homes remained high, and we expect the housing environment to remain challenging. We adjusted our sales prices as selling conditions deteriorated, and we continue to react quickly to market dynamics. We expect to report a profit from operations before impairments for the June 30, 2007 quarter. However, as a result of the factors mentioned above, we will realize significant asset impairments which will result in a loss for both the quarter and the nine months ended June 30, 2007.”
The Company will release its third quarter results on July 26, 2007 before the market opens. The conference call will be held Thursday, July 26, 2007 at 10:00 a.m. Eastern Daylight Time (EDT). The dial-in number is 800-374-9096. Participants are encouraged to call in five minutes before the call begins (9:55 a.m. EDT). Please reference the call host, Donald J. Tomnitz, CEO of D.R. Horton, Inc. The call will also be webcast from the Company’s website at the “Investor Relations” page.

 

 


 

D.R. Horton, Inc., America’s Builder, is the largest homebuilder in the United States, delivering more than 53,000 homes in its fiscal year ended September 30, 2006. Founded in 1978 in Fort Worth, Texas, D.R. Horton has expanded its presence to include 85 markets in 27 states in the Northeast, Southeast, South Central, Southwest, California and West regions of the United States. The Company is engaged in the construction and sale of high quality homes with sales prices ranging from $90,000 to over $900,000. D.R. Horton also provides mortgage financing and title services for homebuyers through its mortgage and title subsidiaries.
Portions of this document may constitute “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. Although D.R. Horton believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. All forward-looking statements are based upon information available to D.R. Horton on the date this release was issued. D.R. Horton does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Forward-looking statements in this release include our expectation for future market conditions to remain challenging and our earnings expectations for the quarter ended June 30, 2007, which include reporting a profit before impairments, realizing significant asset impairments and recording a loss for both the quarter and the nine months ended June 30, 2007. Factors that may cause the actual results to be materially different from the future results expressed by the forward-looking statements include, but are not limited to: changes in general economic, real estate, construction and other business conditions; changes in interest rates, the availability of mortgage financing or increases in the costs of owning a home; governmental regulations and environmental matters; the Company’s substantial debt; competitive conditions within the industry; the availability of capital to the Company on favorable terms; the Company’s ability to successfully effect its growth strategies; and warranty and product liability claims. Additional information about issues that could lead to material changes in performance is contained in D.R. Horton’s annual report on Form 10-K and most recent quarterly report on Form 10-Q, which are filed with the Securities and Exchange Commission.
 
WEBSITE ADDRESS: www.drhorton.com

 

 


 

D.R. HORTON, INC.
($’s in millions)
NET SALES ORDERS
                                 
    Three months ended June 30,  
    2006     2007  
    Homes     Value     Homes     Value  
Northeast
    1,979     $ 510.3       1,148     $ 308.3  
Southeast
    2,010       497.1       1,500       323.7  
South Central
    4,290       744.2       2,541       443.5  
Southwest
    3,227       880.5       1,894       409.2  
California
    1,708       805.1       804       307.1  
West
    1,102       395.8       672       237.0  
 
                       
 
    14,316     $ 3,833.0       8,559     $ 2,028.8  
 
                       
                                 
    Nine months ended June 30,  
    2006     2007  
    Homes     Value     Homes     Value  
Northeast
    5,663     $ 1,478.0       3,867     $ 1,030.6  
Southeast
    5,845       1,489.1       4,301       961.1  
South Central
    11,178       1,920.8       7,198       1,282.2  
Southwest
    9,477       2,535.1       6,364       1,395.0  
California
    6,037       2,754.2       3,247       1,413.2  
West
    3,350       1,185.8       2,336       838.9  
 
                       
 
    41,550     $ 11,363.0       27,313     $ 6,921.0  
 
                       

 

 

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