WASHINGTON (dpa-AFX) - Fort Worth, Texas-based D.R. Horton Inc.'s (DHI) third-quarter net income slid to $113.1 million, or $0.32 per share, from $146.0 million, or $0.42 per share, last year. On average, 21 analysts polled by Thomson Reuters expected earnings per share of $0.49 for the quarter. Analysts' estimates typically exclude one-time items.
For the third quarter of fiscal 2014, Homebuilding revenue climbed by 28% to $2.1 billion, from $1.6 billion in the same quarter of 2013; while thirteen analysts estimated revenues of $2.09 billion. Homes closed in the quarter increased 19% to 7,676, compared to 6,464 homes in the year-ago quarter. During the recent quarter, the company's net sales orders increased 25% to 8,551 homes and 32% in value to $2.4 billion.
Additionally, the board has declared a quarterly cash dividend of $0.0625 per common share, an increase of 67% compared to its most recent dividend paid. This dividend is payable on August 18, 2014 to stockholders of record on August 8, 2014.
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