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November 26, 2008

D.R. Horton posts $800M quarterly loss

FORT WORTH, Texas (AP) — Home builder D.R. Horton says its fiscal fourth-quarter loss widened as it took more than $1 billion in impairment charges on owned inventory, land and lots sold and as it wrote off deposits.

Fort Worth, Texas-based D.R. Horton said Tuesday it lost $799.9 million, or $2.53 per share, for the quarter ended Sept. 30. The home builder lost $50.1 million or 16 cents per share, a year earlier.


 
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