KB Home (KBH) Reports Mixed Q2 Results; Cancellation Rate Improves

June 26, 2009 8:05 AM EDT

KB Home (NYSE: KBH) reports Q2 EPS of $(1.03) versus the analyst estimate of ($0.64) Revenue for the quarter was $384.5 million, versus the consensus of $339.13 million.

In the current quarter, KB Home said cancellation rate improved to 20% from 28%.

KB Home ended its 2009 Q2 with a cash balance of $1.10 billion, including $102.2 million of restricted cash, and no borrowings outstanding on its revolving credit facility. As of May 31, 2009, the Company’s debt balance totaled $1.71 billion.
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