REAL ESTATE
From Times Staff and Wire Reports
Kaufman & Broad Earnings Soar: The largest residential builder in the western United States said its earnings more than doubled in the first quarter, with overall revenue up 14% from a 36% jump in revenue from housing. The Los Angeles-based company said net income rose in the three months ended Feb. 28 to $8.85 million, or 22 cents a share, from $4.37 million, or 12 cents a share, in the year-ago quarter. It said the latest quarter’s results reflected a narrowing loss in minority income from consolidated joint ventures of $218,000, compared to $2.52 million in the year-ago quarter. Revenue rose to $256.9 million from $224.9 million.
