D.R.Horton

D R. Horton was founded in 1978 in Fort Worth, Texas, D.R. Horton has expanded its presence to include 74 markets in 25 states in the Midwest, Mid- Atlantic, Southeast, Southwest and Western 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 dollars to over 900,000 Dollars. D.R. Horton also provides mortgage financing and title services for homebuyers through its mortgage and title subsidiaries and is a fortune 500 stock listed company trading under the symbol DHI on the NYSE and has a good stock performance result.

D.R. Horton, Inc. is America's largest homebuilder builder. On November 16, 2005, the Company reported the highest quarterly and annual earnings in the Company’s history. The Net income for the fourth quarter ended September 30, 2005 increased 61 percent to 563.8 million dollars, from 349.6 million dollars for the same quarter of fiscal 2004. Fourth quarter consolidated revenue increased 45 percent to 5.1 billion dollars, from 3.5 billion dollars in the fourth quarter of fiscal 2004. Homes closed increased 38 percent to 18,622 homes from 13,452 homes in the year ago quarter.

For the fiscal year ended September 30, 2005, net income increased 51 percent to 1,470.5 million dollars, compared to 975.1 million dollars for fiscal 2004. The Consolidated revenue for the year increased 28 percent to 13.9 billion dollars, from 10.8 billion dollars for fiscal 2004. Homes closed increased 17 percent to 51,172 homes from 43,567 homes in fiscal 2004.

Donald R. Horton, Chairman of the Board, said that the fiscal year 2005 was the company’s 28th consecutive year of growth in earnings and revenues. In addition to setting Company records, D.R. Horton is establishing industry records. The Company is the first builder to sell and close more than 50,000 homes in a year and have accomplished this leadership position while continuing to improve their balance sheet. Their shareholders' equity grew 35 percent to 5.4 billion dollars, contributing to their record low homebuilding net debt to cap of 32.2 percent. The improvement in the company’s balance sheet combined with strong operating results resulted in recent upgrades to investment grade status by Moody's Investors Service.

D.R. Horton, Inc., America's Builder, is the largest homebuilder in the United States, delivering more than 51,000 homes in its fiscal year ended September 30, 2005. With the type of results the company produces in its balance sheet it is no wonder it is a highly sought after company on the NYSE.