KB Home Predicts Rosy Future

KB Home(KBH Quote) may have posted a loss in the second quarter, but -- at least according to the company -- happier days may be on the horizon.

Even though KB Home missed expectations, it managed to narrow its loss to $78.4 million, or $1.03 per share. Analysts expected a loss of 72 cents. This compares with a loss of $255.9 million, or $3.30 per share, in the year-ago period.

Revenue fell 40% to $384.5 million, beating Wall Street forecasts of $337.6 million.

"Although key economic indicators remain mixed, we are beginning to see signs that some negative housing market trends may be moderating at both the local and national levels," Chief Executive Jeffrey Mezger said in a statement. ...