LONDON (ShareCast) - US housebuilder KB Home (NYSE: KBH - news) posted a fall in revenues in the second quarter amid continued difficulties
in the housing market, but narrowed losses and said negative trends may be moderating.
Revenues totalled $384.5m in, down 40% from $639.1m from the same quarter the previous year. The company delivered 1,761 homes for an average of $216,200 in the second quarter, compared with 2,810 homes at $226,600 previously.
Net losses totalled $78.4m, compared to a net loss of $255.9m, for the year-earlier period. The company said it was helped by measures taken to cut overhead costs.
"Looking forward, although key economic indicators remain mixed, we are beginning to see signs that some negative housing market trends may be moderating at both the local and national levels," said president and chief executive Jeffrey Mezger
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