DR Horton Inc. (DHI) reported first-quarter net income of $192 million or $0.56 per share compared a net loss of $62.6 million or $0.20 per share last year.
On average, 18 analysts polled by Thomson Reuters expected the company to report a loss of $0.14 per share for the quarter. Analysts' estimates typically exclude special items.
Homebuilding revenue increased to $1.1 billion from $900.3 million last year. Analysts expected revenue of $960.15 million for the quarter.
The company also has declared a quarterly cash dividend of $0.0375 per share. The dividend is payable on February 25, 2010 to stockholders of record on February 16, 2010.
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