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The Honolulu Advertiser
Updated at 4:02 p.m., Tuesday, November 25, 2008

D.R. Horton reports sixth straight quarterly loss

Advertiser Staff

D.R. Horton Inc., the largest U.S. homebuilder reported its sixth straight quarterly loss and cut its dividend as the housing slump continued to weigh on earnings.

Horton, which owns Hawai'i-based developer Schuler Homes among its holdings, said its fiscal fourth-quarter loss widened to $799.9 million from $50.1 million a year earlier.

Homebuilding revenue at Fort Worth, Texas-based Horton fell to $1.75 billion from $3.12 billion, Bloomberg News reported. The company cut its dividend to 3.75 cents from 7.5 cents.