FORT WORTH, TX -- D.R. Horton, Inc. (DHI), America's Builder, reported that net income for its first fiscal quarter ended December 31, 2014 increased 16% to $142.5 million from $123.2 million the same quarter of fiscal 2014. Homebuilding revenue for the first quarter of fiscal 2015 increased 38% to $2.3 billion from $1.6 billion in the same quarter of fiscal 2014. Homes closed in the quarter increased 29% to 7,973, compared to 6,188 homes in the prior year quarter.
Net sales orders for the first quarter ended December 31, 2014 increased 35% to 7,370 homes and 40% in value to $2.1 billion, compared to 5,454 homes and $1.5 billion in the prior year quarter.
Donald R. Horton, Chairman of the Board, said, "Our fiscal 2015 is off to a great start, highlighted by $220.7 million of pre-tax income, on $2.3 billion of revenues. Our position as the largest and most geographically diverse homebuilder provides a strong platform for us to compete for new home sales, evidenced by year-over-year increases in the value of our net sales orders, home sales revenue and sales order backlog of 40%, 37% and 29%, respectively.
"Our weekly sales pace has accelerated in January, and we are well-positioned to capture demand in the spring selling season with our solid balance sheet and robust community count, finished lot supply and inventory of homes available for sale. We also continue to be pleased with the progress and performance of the rollouts of our Express Homes and Emerald Homes brands.
"We remain intently focused on growing revenues and profits at a double-digit pace, while generating improved returns and cash flows."