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by CareyBot

Home builder KB Home today reported a net loss of $49.6 million, or 64 cents per diluted share in the fourth quarter, compared with net income of $304.4 million, or $3.44 per diluted share, in fourth-quarter 2005. For the full year in 2006, KB Home reported a net income of $482.4 million, down 41 percent compared with $823.7 million in 2005. On Nov. 12, 2006, the company reported the preliminary findings of an independent review of its stock-option grant practices, and the company is restating prior-period financial statements as a result of this stock-option review. The company announced that it will file its third-quarter report and final year report today with the Securities and Exchange Commission. "Both reports include restated financial statements for prior periods," accordi...