KBH 11Q4 Earnings Transcript

KBH 11Q4 Earnings Transcript - THOMSON REUTERS STREETEVENTS...

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THOMSON REUTERS STREETEVENTS EDITED BRIEF KBH - Q4 2011 KB HOME EARNINGS CONFERENCE CALL EVENT DATE/TIME: DECEMBER 21, 2011 / 4:30PM GMT OVERVIEW: KBH reported 4Q11 net income of $13.9m or $0.18 per share. THOMSON REUTERS STREETEVENTS | www.streetevents.com | Contact Us ©2011 Thomson Reuters. All rights reserved. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is prohibited without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies.
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CORPORATE PARTICIPANTS Jeff Mezger KB Home - President, CEO, Director Jeff Kaminski KB Home - EVP, CFO CONFERENCE CALL PARTICIPANTS Joshua Pollard Goldman Sachs - Analyst Bob Wetenhall RBC Capital Markets - Analyst Adam Rudiger Wells Fargo Securities, LLC - Analyst Michael Rehaut Dennis McGill David Goldberg UBS - Analyst Alex Barron Housing Research Center - Analyst Dan Oppenheim Credit Suisse - Analyst Mike Widner Stifel Nicolaus - Analyst John Coyle Barclays Capital - Analyst Stephen East Ticonderoga Securities - Analyst OVERVIEW KBH reported 4Q11 net income of $13.9m or $0.18 per share. FINANCIAL DATA A. 4Q11 net income = $13.9m. B. 4Q11 EPS = $0.18. C. FY11-end cash balance = $480m. PRESENTATION SUMMARY I. 4Q11 BUSINESS REVIEW (J.M.) A. Background Information: Objective over past several quarters has been to continue to realign business consistent with principles of KBnxt Built to Order business model and to position Co. to restore sustained profitability. 1. Pre-sold model emphasizes choice and value for consumer. a. 1 THOMSON REUTERS STREETEVENTS | www.streetevents.com | Contact Us ©2011 Thomson Reuters. All rights reserved. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is prohibited without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. DECEMBER 21, 2011 / 4:30PM, KBH - Q4 2011 KB Home Earnings Conference Call
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b. Approach enhances sales revenue and customer satisfaction while reaping benefits of production and cost efficiencies, all of which improve operating margins. 2. Built to Order sales generate 4-5 percentage points of higher margin. Given stronger backlog position today, expects Built to Order homes to comprise growing percentage of deliveries as 2012 unfolds. a. 3. Establishing adequate backlog to support business model has been challenging in difficult housing market of past few years. a. Took number of strategic and proactive steps this year to increase backlog, particularly pre-sold backlog. b.
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This note was uploaded on 02/05/2012 for the course FINANCE 101 taught by Professor George during the Spring '11 term at University of Phoenix.

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KBH 11Q4 Earnings Transcript - THOMSON REUTERS STREETEVENTS...

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