in accounting, that four letter word tells you it's a rate to rate comparison. However, had it said orders were down by 48% or the like that would mean last qtrs 9000 orders would =4320 orders this qtr. thus my earlier sarcastic remark about them going bankrupt because last q it was about 53%. accounting has a lot of spin. that's why there is FASB.(risktaker, that's an acronym, not a word)
Look retard: This from KB's own site... "Backlog totaled 17,384 units at November 30, 2006, representing potential future housing revenues of $4.43 billion. This was a 34% decrease from $6.76 billion in backlog value at November 30, 2005. Net orders decreased 38% in the fourth quarter of 2006 to 6,059 from 9,747 in the year-earlier quarter, primarily due to higher contract cancellations by buyers. The cancellation rate in the fourth quarter of 2006 was 48%, up from 31% in the fourth quarter of 2005 but down from 53% in the third quarter of 2006. " Net orders are NOT sales orders. Their NET orders decreased by 38% but they do not give figure for sales orders/sales orders cancelled. Only the cancellation rate of sales orders. They're saying they SOLD 38% less houses and that their cancellation rate is at 48% but that's actually LOWER than the previous quarter since it was 53% then! Obviously that tells you cancellation rates have been pretty high for a while. Don't know about '04/'03 You're a %uckin& moron.
Guys, do you really not get this yet? It's plain English, the rate rose TO 48%. Take out the word "to", and it would have a whole different meaning, but that's not what they wrote. Simple enough?
kishtaker, you should be buying kb . its really bullish! i believe everything they and the media say . bgp
at least you are following my guidance by going to their website. (or did you think it was KinkyBarebackingHome.com? you have officially dealt with a madman
apologies guys. I took his aggressive name-calling a bit too personal. maybe he has a reputation for doing such.