KB Home posts 3rd Quarter numbers

from this afternoon's Los Angeles Business Journal (9/26):

Posted date: 9/26/2008

KB Home Posts Wider-Than-Expected Loss
By DEBORAH CROWE
Los Angeles Business Journal Staff

"KB Home surprised Wall Street Friday by reporting that its fiscal third-quarter loss had quadrupled from a year ago as revenue fell by 56 percent.

The Los Angeles-based homebuilder reported a net loss of almost $145 million (-$1.87 a share) for the three months ended Aug. 31. Revenue fell to nearly $682 million from $1.54 billion as sales across most markets were poor.

The results did include a pretax charge of $82 million to write down the value of inventory and joint ventures. Even so, analysts polled by Thomson Reuters had predicted a loss of only $1.22 per share on revenue of $735 million." ....

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