Builder KB Home Reports Lower Income, Higher Sales

Los Angeles, CA, June 19, 2015 -- Homebuilder KB Home reported second quarter net income totaled $9.6 million, or $.10 per share, compared to $26.6 million, or $.27 per diluted share, for the second quarter of 2014.

Total revenues of $623.0 million grew 10% from $565.0 million a year ago. The current quarter revenue growth was driven by increases in the company’s housing and land sale revenues.

Housing revenues rose 8% to $604.9 million from $559.8 million for the year-earlier quarter, reflecting expanded delivery volume and a higher overall average selling price.