KB Home revenues increase 16 percent in third quarter

KB Home reported a 16 percent revenue increase to $424.5 million in the third quarter of 2012, which ended Aug. 31, 2012.

This increase is compared to the 2011 third quarter revenues of $367.3 million.

The housing gross profit margin increased 60 basis points to 17.5 percent, compared to 16.9 percent in the third quarter of 2011 and the second quarter of 2012.

Administrative expenses increased to $62.8 million from 2011’s third quarter total of $60.2 million, while HB’s homebuilding operating income increased to $10.9 million from $1.4 million in 2011.

Third quarter net orders increased to 1,900, up 3 percent from 2011’s total of 1,838.

For the full report, visit: http://investor.kbhome.com/releaseDetail.cfm?ReleaseID=708643