UPDATE: KB Home Q4 Net Profit Drops 44%
KB Home (NYSE: KBH) posted a 44% drop in its fiscal fourth-quarter net income.
KB Home's quarterly earnings declined to $7.7 million, or $0.10 per share, from $13.9 million, or $0.18 per share, in the year-ago quarter.
Its revenue rose to $578.2 million from $479.9 million. However, analysts were expecting a profit of $0.06 per share on revenue of $562.9 million.
KB Home shares closed at $16.66 yesterday.
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