LOS ANGELES (AP) _ KB Home (KBH) on Thursday reported fiscal fourth-quarter profit of $123.2 million.
On a per-share basis, the Los Angeles-based company said it had net income of $1.31.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.29 per share.
The homebuilder posted revenue of $1.56 billion in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $1.6 billion.
For the year, the company reported profit of $268.8 million, or $2.85 per share. Revenue was nearly unchanged at $4.55 billion.
KB Home shares have climbed 8% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $37.01, an increase of 68% in the last 12 months.