Homebuilder KB Home
KB on Friday reported a third-quarter net loss of $66 million, or 87 cents per share, compared with a loss of $144.7 million, or $1.87 per share, a year earlier.
Revenue fell 32.8 percent.
It will likely be some time before we see meaningful improvement in the economic conditions that are essential to our industry's future growth, said CEO Jeff Mezger.
Homebuilder shares have been on a tear over the past three months, as the industry that was one of the first to be sucked into the worst U.S. economic downturn since the Great Depression starts to show signs of stabilization.
(Reporting by Scott Malone, editing by Gerald E. McCormick)