DR Horton swings to $800 million loss

D.R. Horton Inc.’s chief executive said Tuesday he expects this fiscal year to be even more challenging than 2008, which ended with a nearly $800 million quarterly loss on slower home sales and more than $1 billion in charges.

The Fort Worth, Texas-based homebuilder reported a net loss of $799.9 million, or $2.53 a share, compared to a loss of $50.1 million or 16 cents a share, in the year-ago period. Total sales for the quarter were $1.75 billion, down from $3.12 billion in the fourth quarter 2007.

The company sold 6,961 homes in the fourth quarter, down 41 percent from year-ago levels.