KB Home Posts Narrower Earnings Loss

KB HomeKB Home (KBH) reported a quarterly loss of 2 cents per share, compared with 87 cents per share a year earlier.

Revenue was $501 million in the quarter ended Aug. 31, the company said in a statement. That's a 9% increase from a year earlier.

Sponsored Links
The company incurred $3.3 million of inventory impairment of land option contract abandonment charges in the quarter, compared with $47.7 million a year earlier.

The number of homes delivered rose 4% to 2,320, while the average selling price rose 6% to $214,200.

"We believe our results for the quarter demonstrate that with the disciplined execution of our business strategies we are generating greater operational efficiencies and are making solid progress toward our goal of achieving sustained profitability," CEO Jeffrey Mezger said.



Read Full Story

Markets

DJIA 20,937.91 43.08 0.21%
NASDAQ 6,138.71 5.09 0.08%
S&P 500 2,398.42 4.40 0.18%
NIKKEI 225 19,742.98 129.70 0.66%
HANG SENG 25,428.50 25.35 0.10%
DAX 12,633.63 -25.52 -0.20%
USD (per EUR) 1.12 0.00 0.10%
USD (per CHF) 0.98 0.00 0.03%
JPY (per USD) 111.79 -0.16 -0.15%
GBP (per USD) 1.30 0.00 0.11%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.