THE PERFORMANCE: KB Home's fiscal fourth quarter profit fell 20 percent to $13.9 million, or 18 cents a share. Revenue rose 6 percent to $479.9 million. The results topped Wall Street's forecast.
THE DETAILS: Home orders jumped 38 percent from a year earlier, while home deliveries rose 4 percent. The builder's backlog of homes under contract at the end of the quarter vaulted 61 percent to the highest year-end level since 2008.
OUTLOOK: Management forecasts KB will deliver more homes at higher prices next year than in 2011. It expects to open 25 communities in the first half of 2012.
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