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Although the company reported higher net income and revenue, it missed analysts’ expectations.
The company’s third quarter profits increased 4% to $28.4 million, from $27.3 million last year. On a per share basis, earnings declined to 28 cents, from 30 cents last year. The upside in net income was primarily due to growth in home sales and higher selling prices. This upside was partially offset by a decline in home deliveries. Despite the overall increase in earnings, KBH missed analysts’ view of 40 cents per share.
Revenue came in at $589.2 million, up from $549 in the same quarter last year. Analysts expected to see revenue of $646.8 million.
|FDVLX||Fidelity Value Fund||4.25%|
|SMVFX||RidgeWorth Mid-Cap Value Equity Fund||2.29%|
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