WASHINGTON (dpa-AFX) - D.R. Horton, Inc. (DHI) said its second-quarter net income increased 18% to $131.0 million, or $0.38 per share, from $111.0 million, or $0.32 per share in the same quarter of fiscal 2013. On average, 22 analysts polled by Thomson Reuters expected earnings per share of $0.34 for the quarter. Analysts' estimates typically exclude one-time items.
Quarterly Homebuilding revenue climbed by 22% year-over-year to $1.7 billion from $1.39 billion, while thirteen analysts estimated revenues of $1.55 billion. Homes closed in the quarter rose 10% to 6,194, from 5,643 homes in the year-ago period. Net sales orders for the quarter improved 9% to 8,569 homes from 7,879 homes last year, and the value of net sales orders increased 20% to $2.4 billion from $2.0 billion.
Further, the firm has declared a quarterly cash dividend of $0.0375 per share, payable on May 27, 2014 to stockholders of record on May 15, 2014.
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