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KB Home (NYSE: KBH ) posted 4Q and fiscal 2012 results today. According to the company's official press release announcing the results, net profit amounted to $7.7 million ($0.10 per diluted share), against 4Q 2011's $13.9 million, for a year-over-year decline of nearly 45%. Revenues, on the other hand, posted a 20% improvement on an annual basis, to $578 million, over the same time period.
Analysts had been expecting around $0.07 EPS and revenues of $567 million.
The 4Q 2011's results included a gain of almost $20 million from the wind-down of a joint venture that KB Home was a partner in.
For full-year 2012, the company posted a net loss of $59 million ($0.76 EPS) against a shortfall of $179 million the previous year. Revenues were $1.6 billion, which represents a 20% year-over-year increase.