Profile: KB Home (KBH)

KB Home operates a homebuilding and financial services business serving homebuyers in markets nationwide. It constructs and sells homes through its operating divisions across the United States under the name KB Home. The Company operates in 10 states and 30 markets, including California, Arizona, Nevada, Colorado, Texas, Florida, Maryland, North Carolina, South Carolina and Virginia. The Company’s homebuilding operations offer a variety of homes designed primarily for first-time, first move-up and active adult buyers. The Company’s financial services operations offer mortgage banking, title and insurance services to its homebuyers.

Homebuilding

The Company’s homebuilding operations, which are divided into four geographical segments, namely West Coast, Southwest, Central and Southeast, offer a variety of homes designed primarily for first-time, first move-up and active adult buyers, including attached and detached single-family homes, townhomes and condominiums. It offers homes in development communities, at urban in-fill locations and as part of mixed-use projects. During the fiscal year ended November 30, 2009 (fiscal 2009), through its homebuilding segments, the Company delivered 8,488 homes. During fiscal 2009, homebuilding operations accounted for 99.5% of the total revenues.

Financial Services

The Company’s financial services operations offer mortgage banking, title and insurance services to its homebuyers. Mortgage banking services are offered to the homebuyers indirectly through KB Home Mortgage, LLC (KB Home Mortgage), a joint venture between the Company and CWB Venture Management Corporation, a subsidiary of Bank of America, N.A. During fiscal 2009, financial services operations accounted for .5% of its total revenues.