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US homebuilder KB Home reports USD7.7m profit in Q4  Join our daily free Newsletter

MENAFN - 20/12/2012

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(MENAFN) Los Angeles-based homebuilder KB Home reported a 45 percent decline in quarterly profits, while its revenue jumped along with its backlog of orders, AP reported.

The company said it made USD7.7 million net profit during its fiscal fourth quarter ended November 30, down from USD13.9 million a year earlier.

That year-ago figure included USD26.4 million from a financial services gain and the company booked additional gains on a loan guaranty.

The company also reported a 21 percent increase in quarterly revenue to USD578.2 million from a year ago.

Potential future housing revenues in backlog climbed 35 percent to USD618.6 million. Net orders rose 4 percent to 1,557.

KB Home also reported a full-year loss of USD59 million, down from USD178.8 million in the previous year, while revenue grew by 18 percent to USD1.56 billion from USD1.32 billion.

 






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