Dallas, Texas 01/01/2014 (FINANCIALSTRENDS) – KB Home (NYSE:KBH), one of the country’s biggest and most accepted homebuilders, stated that it posted a net income of around $28.1 million during the fourth quarterly period, on proceeds of $618.5 million.
Revenues remained up by 7%
Homes delivered came down by 4% as against the same period of 2012 to 2,038 homes, showing a fall in deliveries from the firm’s West Coast homebuilding area, which was partially counterbalanced by augmentations in each of the firm’s other three home constructing counties.
The overall average selling cost went up to $301,100, up 11% as against the same period of 2012, broadening the Company’s tendency of year-over-year increases. The boost in the average selling cost reflected the firm’s continuing investment in higher-performing, choice sites in land constrained expansion markets, which feature advanced household revenues and demand for superior homes, plus incremental incomes produced via lot premiums, options and improvements, and generally positive housing market situations.
Each of the firm’s homebuilding areas registered a higher average selling value as against the same period of 2012. Average selling value augmentations ranged from 10% in the firm’s Southeast homebuilding area to 29% in its West Coast homebuilding area.
Mr. Jeffrey Mezger, president and CEO of the company satted, “Our 4th quarterly period outcomes offered a solid finish to the last year with both proceeds as well as profits up from the preceding year.”
“We also registered full-year net proceeds for the initial time in several years. These outcomes imitate the optimistic momentum within our biz all through 2013 that delivered noticeably enhanced financial recital, with higher incomes and enhanced bottom-line outcomes in each quarterly period of 2013,” Mr. Jeffrey added up.
The catalyst for this growth has been a continuing planned shifting of the company’s procedures to higher-performing zones crosswise the nation