Donald R. Horton, chairman of the board, in a statement said that the company expects the housing market to "remain challenging." "We adjusted our sales prices as selling conditions deteriorated, and we continue to react quickly to market dynamics. We expect to report a profit from operations before impairments for the June 30, 2007, quarter. However, as a result of the factors mentioned above, we will realize significant asset impairments, which will result in a loss for both the quarter and the nine months ended June 30, 2007," he said. The company will release its third-quarter results on July 26, before the market opens. D.R. Horton shares (NYSE: DHI) were trading at $19.36 this morning, down slightly from Monday's closing price of $19.79.