DR Horton Inc. reported un-audited consolidated earnings results for the first quarter ended December 31, 2011. For the quarter, the company reported net income of $27.7 million, or $0.09 per basic and diluted share, compared to a net loss of $20.4 million, or $0.06 per basic and diluted share, for the quarter ended December 31, 2010. Homebuilding revenue for the first quarter of fiscal 2012 totaled $885.6 million, compared to $767.0 million in the year ago quarter. The company reported revenue of $885.6 million compared to $767.0 million and income before income taxes of $29.2 million compared to loss before income taxes of $19.9 million for the last year. The company reported net cash used in operating activities of $3.3 million and purchases of property and equipment of $2.4 million. The company has declared a quarterly cash dividend of $0.0375 per share. The dividend is payable on February 21, 2012 to stockholders of record on February 10, 2012. The company reported inventory impairments and land option cost write-offs of $1.4 million compared to $8.4 million for the last year.