D.R. Horton reports jump in profit, orders

Fri Jul 27, 2012 7:34am EDT

(Reuters) - Top U.S. homebuilder D.R. Horton Inc (DHI.N) posted a huge jump in quarterly profit helped by a non-cash tax benefit and said new orders jumped for the fourth straight quarter.

Horton's third-quarter net income rose to $787.8 million, or $2.22 per share, from $28.7 million, or 9 cents per share, a year earlier.

The company recorded a tax benefit of $716.7 million.

Net sales orders rose 25 percent to 6,079 homes.

(Reporting by A. Ananthalakshmi in Bangalore; Editing by Don Sebastian)