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January 7, 2011

Los Angeles-based home builder KB Home achieved a fourth-quarter profit in what the company's CEO described as a "challenging market."

The company reported net income of $17.4 million for the period ended Nov. 30, down 82.7% from $100.7 million reported for the same quarter last year. Total revenues for the quarter were $450.9 million, down 33% from $674.5 million reported for the same period in 2009.

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