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 LOS ANGELES (AP) - KB Home, one of the nation's biggest homebuilders, said Wednesday that its fiscal first-quarter profit rose 42 percent on higher revenues and improved margins, but reported a 12 percent drop in net home orders.
For the three months ended Feb. 28, the company earned $174.5 million, or $2.02 per share, up from $122.7 million, or $1.41 per share, a year ago.
Revenue rose 34 percent to $2.19 billion, compared to $1.64 billion in the same period last year.
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