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.

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.




Increase your money and finance knowledge from home

Introduction to Value Investing

Are you the next Warren Buffett?

View Course »

What is Short Selling?

Make a profit when stocks prices fall.

View Course »

Add a Comment

*0 / 3000 Character Maximum

2 Comments

Filter by:
akbhomesucks@activist.com

The drop coincides with Ron Burkle and Stephen Bollenbach KB Home Board of Directors loosing the chance to ruin Barnes and Noble booksellers. Just Google KB Home Sucks, it will show you why people are selling their KB Home Stocks. KB Builds lemons, defies the FTC Consent order and drags their feet. Countless registered letters never get replied to. KB is a company out-of-control with NO Government oversight. Karatz the CEO is a felon, Jeffrey Mezger is a CEO with no credibility. This is no way to run a company. KB Home Sucks and many people know it. The company is run by Billionaires who cheat the public – Bollenbach is AIG’s director responsible for stealing taxpayer’s money aka the largest bailout in history, its all in Barnes and Nobles letter to shareholders. Burkle needs to get a wife. http://www.akbhomesucks.com No confidence in a KB Home, A KB Home Board of Directors and no confidence in a KB Home share or shareprice. Other directors include Moonves the CEO of CBS, Lora the CFO of TACO BELL, Finchem President of the PGA, Johnson of BET TV all built the Lemons with Bruce Karatz.

September 30 2010 at 12:10 AM Report abuse rate up rate down Reply
marine1942

The main reason they cut their lose is they gave up huge land deals. So, in looking to the future they will not have inventory of property. A loss is a loss, is a loss, is a loss

September 24 2010 at 10:10 AM Report abuse +1 rate up rate down Reply