"I don't think '08 is going to be a great year, but it's going to be much better than '07," CEO Don Tomnitz told the Citigroup Industrial Manufacturing Conference
He also said: "'07 is going to suck."
D.R. Horton said it may have to make further write-offs to reflect unsold homes or lower land values.
"We may have more impairments coming," Tomnitz said. "We'll know that on a quarter-by-quarter basis."
Pretty hard to misinterpret that comment.