This annual report summarizes KB Home's financial performance from 1994 to 2004. Some key points: - Revenues grew from $1.34 billion in 1994 to $7.05 billion in 2004, a compound annual growth rate of 18% over 10 years. - Net income grew from $47 million to $481 million over the same period, a compound annual growth rate of 26%. - Unit deliveries increased from 7,824 homes in 1994 to 31,646 homes in 2004. - The company expanded from 9 U.S. markets in 1994 to 36 markets in the U.S. and France by 2004.