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KB Home Named to Forbes 2005 List of Supercharged
Companies
LOS ANGELES, Jan 04, 2005 /PRNewswire-FirstCall via COMTEX/ -- KB Home (KBH),
one of the nation's premier homebuilders, announced today that the company
earned a coveted position on the Forbes 2005 list of Supercharged Companies,
which included only seven other major retailers, transportation, health care
and chemical firms.
According to Forbes, Supercharged Companies are those that are expected to
increase their performance in the next 12 months by a greater percentage
than they had grown in the latest 12 months, in terms of both earnings per
share and sales. Only eight companies from the Forbes Platinum 400, or
America's Best Big Companies, earned the Supercharged title.
"It is an honor to be recognized by Forbes for our financial performance in
2004 and for the predictions and expectations for the upcoming year," said
KB Home Chairman and CEO Bruce Karatz. "I would also like to congratulate
the other seven companies that were recognized due to equally impressive
numbers. This distinction is a reflection of our record-breaking
achievements of $7 billion in revenues, $481 million in net income, 31,646
homes delivered, and nearly $5 billion in backlog, in addition to forecasts
that prompted KB Home to raise its 2005 earnings guidance by 27 percent."
KB Home recently reported record FY 2004 numbers, including all-time high
revenues, which were up 21 percent from 2003. The company's net income was
up 30 percent from 2003. In terms of growth, KB Home delivered 16 percent
more homes in 2004 than the prior year. Additionally, its backlog dollar
value was up 57 percent from year-end 2003, and the number of backlog units
was up 38 percent from year-end 2003. In conjunction with KB Home's strong
financial results, the company's stock price increased approximately 50
percent in 2004.
KB Home ranked number 63 on the 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 and Texas; and Southeast-Florida, Georgia, North Carolina and South
Carolina. Kaufman & Broad S.A., the Company's majority-owned subsidiary, is
one of the largest homebuilders in France. In fiscal 2004, the Company
delivered homes to 31,646 families in the United States and France. It also
operates a full-service mortgage company for the convenience of its buyers.
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.
Contact: Derrick Hall of KB Home, +1-310-231-4142, or
dmhall@kbhome.com.
SOURCE KB Home
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