KB Home Fourth Quarter 2011 Numbers | ||
Quarter Four | Fiscal Year | |
Profit/(Loss) | $13.9 M -20% | ($178.8 M) -158% |
Home Deliveries | 1,995 +4% | 5,812 -20.9% |
New Orders | 1,494 +37.7% | 6,632 +1.2% |
Behind the Numbers:
It was a bleak year for KB Home, but its fourth quarter showed some hope that, at least in the sales department, things may be starting to turn around. The company turned a net profit in the quarter, and its year-end backlog at 2,156 was the highest it has been since 2008. The poor year, debt repayments, and resolving its obligations in a bankrupt Las Vegas land deal called South Edge cost the company dearly. On Nov. 30 KB Home had $414 million in cash, less than half the $904 million it had last year. Resolution of the South Edge deal cost $251.9 million.
KB Home’s fourth quarter and fiscal year ended November 30.
Learn more about markets featured in this article: Los Angeles, CA.
