D.R. Horton Inc. announced today that decreased costs helped taper its fiscal fourth quarter loss, even in the face of a revenue dive.
For the quarter ended in September, the loss was $231.9 million, or 73 cents per share, compared with last year’s loss of $799.9 million, or $2.53 per share.
The Texas-based homebuilder, which operates in 27 sates in the East, Midwest, Southeast, South Central, Southwest and West regions of the U.S., said its net sales orders and backlog both rose during the quarter.
Shares of D.R. Horton fell to $11.35 from Thursday’s close of $12.25.
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