Investing to Wealth

KB Home (KBH) the fifth-largest US homebuilder reported better-than-expected earnings after the company switched to a new line of smaller cheaper units that give customers plenty of options in customization. The company said its first-quarter loss was just $0.75 a share $0.06 better than Thomson First Call estimates. Revenues fell over 60% year-over-year to $307.4 million which was below expectations of $347.5 million. But according to the Wall Street Journal  KB also had fewer writedowns a reduction in cancellations and 26% spike in net orders. In a conference call President and Chief Executive Jeffrey Mezger said “homes must change with the times.” ...