- Net orders in FQ4 of 1,556 homes were flat from a year ago, as are backlogs of 2,557 homes. Cancellation rate as a percentage of new orders is 36% vs. 35% a year ago.
- 2,038 homes delivered fell 4% from a year ago. Average selling price of $301k up 11%.
- Operating income as a percentage of revenue up 490 basis points to 7.6%. Adjusted gross profit margin of 19.8% up from 15.1%.
- "We enter the new fiscal year with a strong land portfolio that supports our plans for community count growth as the substantial investments we have made in land and land development convert to open communities."
- CC at 11:30 ET
- Press release, FQ4 results
- KBH -2.7% premarket
Orders flatten out at KB Home; -2.7% premarket
Dec 19 2013, 08:44 ET