KB Home (KBH) posted a significantly narrower first-quarter net loss of $12.5 million, or $0.16 per share, compared with a $45.8 million, or $0.59 per share loss, in the prior-year quarter. On average, 21 analysts polled by Thomson Reuters expected loss per share of $0.22 for the quarter. Analysts' estimates typically exclude one-time items.
Quarterly revenues went up 59% to $405.2 million, from $254.6 million, a year ago, due to an increase in the number of homes delivered and a higher average selling price. Compared to the prior-year quarter, revenues grew across all of the company's homebuilding regions. Analysts estimated revenues of $359.8 million for the quarter.
The Company delivered 1,485 homes, up 29% from last year, reflecting increases in three of its four homebuilding regions. Net orders advanced by 40% to 1,671 in the first quarter of 2013, up from 1,197 in the year-earlier quarter.
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