KB Home Quarterly Profit Falls, but Still Beats Estimates
Dec 20th 2012 8:42PM
Updated Dec 20th 2012 8:52PM
KB Home posted 4Q and fiscal 2012 results today. According to the company's official press release announcing the results, net profit amounted to $7.7 million ($0.10 per diluted share), against 4Q 2011's $13.9 million, for a year-over-year decline of nearly 45%. Revenues, on the other hand, posted a 20% improvement on an annual basis, to $578 million, over the same time period.
Analysts had been expecting around $0.07 EPS and revenues of $567 million.
The 4Q 2011's results included a gain of almost $20 million from the wind-down of a joint venture that KB Home was a partner in.
For full-year 2012, the company posted a net loss of $59 million ($0.76 EPS) against a shortfall of $179 million the previous year. Revenues were $1.6 billion, which represents a 20% year-over-year increase.
The article KB Home Quarterly Profit Falls, but Still Beats Estimates originally appeared on Fool.com.Eric Volkman has no positions in KB Home. The Motley Fool has no positions in KB Home. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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