Dive summary:
- KB Homes, No. 5 in the U.S. home-builder market, scored 20% more revenues for Fiscal 2012's last quarter (ended Nov. 30) than for the year-before period while delivering 6% more houses.
- The company, long aimed at first-time buyers, has been shifting strategy to include more move-up customers seeking higher-priced homes, and the average selling price was up 14% to $270,700.
- For the quarter, net revenue was down to 10 cents per share from last year's 13.9 cents because of a one-time benefit last year, but the company's stock price was 148% of where it was the year before.
From the article:
The company’s contract backlog, an indication of future sales, jumped 35 percent to $618.6 million compared with a year earlier, and orders rose 4 percent to 1,557 units, the third consecutive quarter orders have increased. ...
