LOS ANGELES, Dec. 29 /PRNewswire-FirstCall/ -- KB Home , one of the nation's premier homebuilders, announced today that it is the only homebuilder named on Forbes magazine's list of "turbocharged companies."
According to Forbes, "the 12 turbocharged companies from the Forbes Platinum 400 posted growth rates of at least 10% over the past five years in both sales and earnings per share. Over the next 12 months, security analysts think that all these companies will exceed their five-year historic average growth rates -- in both sales and earnings. Analysts also expect these companies to post at least 10% annualized earnings growth over the next three to five years."
"We are honored to once again be recognized by Forbes for our financial performance as well as for our 2006 projections," said KB Home Chairman and CEO Bruce Karatz. "This distinction is a reflection of our continued achievements which this year include $9.44 billion in revenue, $842.4 million in income, the delivery of 37,140 homes and a $6.77 billion in backlog. We are proud of our success and look forward to continued strong performance in 2006."
KB Home recently reported record FY 2005 numbers, including all-time high revenues which were up 34% from 2004. The company's net income was up 75% from 2004 and the company delivered 17% more homes in 2005 than the prior year. In addition, the company's record backlog exceeded 25,000 units, with a dollar value up 40% from 2004.
KB Home ranked number 63 on Forbes Platinum 400 list, also known as America's Best Big Companies. For more information about KB Home's recent rankings, link to: http://www.forbes.com/
About KB Home
Building homes for nearly half a century, KB Home is one of America's premier homebuilders with domestic operating divisions in some of the fastest-growing regions and states: West Coast-California; Southwest-Arizona, Nevada and New Mexico; Central-Colorado, Illinois, Indiana, Louisiana and Texas; and Southeast-Florida, Georgia, Maryland, North Carolina, South Carolina and Virginia. Kaufman & Broad S.A., the Company's publicly-traded French subsidiary, is one of the largest homebuilders in France. In fiscal 2005, the Company delivered homes to 37,140 families in the United States and France. KB Home also offers complete mortgage services through Countrywide KB Home Loans, a joint venture with Countrywide Financial Corporation. Founded in 1957, and winner of the 2004 American Business Award for Best Overall Company, KB Home is a Fortune 500 company listed on the New York Stock Exchange under the ticker symbol "KBH." For more information about any of KB Home's new home communities, call 888-KB-HOMES or visit http://www.kbhome.com/.
For more information contact:
Caroline Shaw 310-231-4142
