Kb Home (KBH) has reported 8.62 percent rise in profit for the quarter ended Feb. 28, 2017. The company has earned $14.26 million, or $0.15 a share in the quarter, compared with $13.13 million, or $0.14 a share for the same period last year.
Revenue during the quarter grew 20.67 percent to $818.60 million from $678.37 million in the previous year period.
Total expenses were $791.79 million for the quarter, up 20.40 percent or $134.18 million from year-ago period. Operating margin for the quarter expanded 21 basis points over the previous year period to 3.27 percent.
Revenue from real estate activities during the quarter increased 20.79 percent or $140.50 million to $816.25 million.
"Building on our 2016 accomplishments, we delivered a solid financial and operational performance in the first quarter and extended the upward trajectory of our business," said Jeffrey Mezger, chairman, president and chief executive officer. "With double-digit year-over-year growth in deliveries, revenues, pretax income, net orders and backlog, we are benefiting from the effective execution of our core business strategy and a favorable housing environment supported by healthy demand and constrained supply. We are seeing particular strength in California, our largest market, where we had significant year-over-year improvement in many key metrics. Company-wide, our operations are maintaining a strong cadence that is producing more reliable, predictable results.”
Real estate inventory stood at $3,423.34 million as on Feb. 28, 2017. Net receivables stood at $238.36 million as on Feb. 28, 2017. Accounts payable stood at $178.49 million as on Feb. 28, 2017.
Total assets stood at $4,922.58million as on Feb. 28, 2017. On the other hand, total liabilities were at $3,186.12 million as on Feb. 28, 2017.
Return on assets was at 0.42 percent in the quarter. At the same time, return on equity was at 0.82 percent in the quarter.
Total debt was at $2,504.45 million as on Feb. 28, 2017. Shareholders equity was at $1,736.46 million as on Feb. 28, 2017. Meanwhile, debt to equity ratio was at 1.44 percent in the quarter.
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