KB Home Reveals Decline In Q1 Income, Misses Estimates

(RTTNews) - KB Home (KBH) reported a profit for first quarter that decreased from last year and missed the Street estimates.

The company's earnings came in at $109.56 million, or $1.49 per share. This compares with $138.66 million, or $1.76 per share, last year.

Analysts on average had expected the company to earn $1.59 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 5.2% to $1.391 billion from $1.467 billion last year.

KB Home earnings at a glance (GAAP) :

-Earnings: $109.56 Mln. vs. $138.66 Mln. last year. -EPS: $1.49 vs. $1.76 last year. -Revenue: $1.391 Bln vs. $1.467 Bln last year.