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The loss is attributed to charges tiedto joint-venture impairments and the abandonmentr of land option contracts, the homebuilder said. Los Angeles-basedx KB Home (NYSE: KBH), which has significant operationd inthe Dallas-Fort Wortj area, posted a second-quarter net loss of $78.4 or $1.03 per share. That is improve from last year when the companyg reported a much deepeer lossof $255.9 million, or $3.30 per share. The company’sa overall revenue as compared to last year fell 40 percenty in thesecond quarter, hitting $384.5 down from $639.1 million a year earlier.
The decline is attributedx to a 37 percent drop in the number of homea delivered and a 5 percent drop in the averagew homeselling price. KB Home’s President and Chief Executiv e Officer Jeffrey Mezger said Fridaty the company reported a lower net loss due to strategid initiatives that set the goal of improvinhgross margins, cutting overhead expenses and creating profitability in the company’s
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