D.R. Horton Reports Earnings

Homebuilder D.R. Horton (DHI) announced that quarterly profit was nearly triple that versus the same period last year due to increased sales and better margins. Net income was $100.1 million, or 30 cents per share, versus $35.7 million, or 11 cents per share in the same period last year. Revenue increased by 21 percent to $1.3 billion, and net sale increased by 24 percent. Shares are lower by nearly 2.7 percent.