KB Home estimates 32% drop in third-quarter profit

diese meldung sollte grund genug sein die aktie gen norden zu treiben.

i think this great news should boost the stock at least 5% (sarcasm off).

more on the fantastic management from kbh
http://immobilienblasen.blogspot.com/2006/09/kb-homes-kbh-earning-plus-options.html
http://immobilienblasen.blogspot.com/2006/09/kbh-homes-kbh-warning.html

KB HOME: EXPECTS BANK WAIVERS IN 'NEAR TERM'
KB HOME: MAY NEED TO MAKE NON-CASH CHARGES FOR COMPENSATION
KB HOME: STOCK OPTION REVIEW NOT COMPLETE
KB HOME REVENUE IN QUARTER $2.67 BLN, UP 6%
KB HOME Q3 EPS TO FALL TO $1.93 FROM $2.55
KB HOME DELAYS Q3 FOR STOCK OPTION GRANT REVIEW

KBH for the first time estimated earnings results for the third quarter, saying net income likely dropped 32% to $155 million, or $1.93 a share. The company had previously reported a 6% rise in third-quarter revenue to $2.67 billion. The home builder hasn't filed its third-quarter results with the Securities and Exchange Commission as it's still reviewing accounting for stock-option grants. Additional non-cash charges for stock based compensation relating to these grants may need to be recorded, the company said in an SEC filing. It expects to receive extensions from banks in the "near term" to file third-quarter results.

gruß
jan-martin