KB Home (KBH)

KB Home, the Los Angeles-based homebuilder, said Tuesday that it had posted quarterly net income of $100.7 million, or $1.31 a share, compared with a net loss of $307.3 million, or $3.96 a share, in the year-earlier quarter. KB said the latest quarter included an income tax benefit of $191.7 million. Revenue for the quarter fell 27% to $674.6 million. The company said average selling prices of a home fell 12% from the fourth quarter of 2008, while deliveries decreased 22%.
Revenues topped analyst estimates.

Jan 12 · 10:59:00 AM · Source: Company News Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter