KB Home
Industry: Construction Services

KB Home is one of America's largest homebuilders, with domestic operating divisions in some of the fastest-growing areas of the country including: West Coast -- California; Southwest -- Arizona, Nevada and New Mexico; and Central -- Colorado, Florida and Texas. Kaufman & Broad S.A., the Company's majority-owned subsidiary, is one of the largest homebuilders in France. In fiscal 2001, the Company delivered homes to 24,868 families in the United States and France. It also operates KB Home Mortgage Company, a full-service mortgage company for the convenience of its buyers. Founded in 1957, KB Home is a Fortune 500 company listed on the New York Stock Exchange under the ticker symbol "KBH."

Business Summary
KB Home is a homebuilder based in the United States with operations in Arizona, California, Colorado, Florida, Georgia, Illinois, Indiana, Nevada, New Mexico, North Carolina, South Carolina and Texas. Kaufman & Broad S.A. (KBSA), the Company's subsidiary, is a homebuilder with operations primarily in France. For the fiscal year ended November 30, 2004 (fiscal 2004), KB Home delivered 31,646 homes in the United States and France. It also provides mortgage banking services to the majority of its domestic homebuyers through its wholly owned subsidiary, KB Home Mortgage Company (KBHMC). During fiscal 2004, the Company acquired Palmetto Traditional Homes, Dura Builders Inc., Groupe Avantis and Foncier Investissement.

Financial Summary
For the nine months ended 31 August 2005, KB Home's total revenues increased 35% to $6.29B. Net income for the period increased 81% to $531.8M. Revenues reflect an increase in unit delivery volume and higher average selling price. Higher income for the period also reflects an improved housing operating margin, a decrease in interest expenses and higher equity in income of joint ventures.