Revenue during the quarter grew 20.91 percent to $1,191.94 million from $985.78 million in the previous year period.

Total expenses were $1,133.83 million for the quarter, up 24.24 percent or $221.21 million from year-ago period. Operating margin for the quarter contracted 255 basis points over the previous year period to 4.88 percent.

Operating income for the quarter was $58.11 million, compared with $73.16 million in the previous year period.

"We made considerable progress on several fronts in 2016 with solid operational execution driving year-over-year increases in our annual deliveries, revenues and earnings," said Jeffrey Mezger, chairman, president and chief executive officer. "We finished the year with strong fourth quarter performance and poised for long-term success with a roadmap for returns-focused growth, a refined core business strategy, and specific three-year financial targets. We also took decisive actions to improve our asset efficiency, committing to sell certain non-core land assets over the coming year. While this resulted in inventory-related impairment charges in the quarter, we intend to productively redeploy the cash proceeds to deleverage our balance sheet and invest in our business."

Real estate inventory went up marginally by 2.70 percent or $89.48 million to $3,403.23 million on Nov. 30, 2016. Net receivables were at $231.66 million as on Nov. 30, 2016, down 6.59 percent or $16.33 million from year-ago. Accounts payable increased 17.17 percent or $31.56 million to $215.33 million on Nov. 30, 2016.

Total assets went up marginally by 2.32 percent or $116.25 million to $5,131.62 million on Nov. 30, 2016. On the other hand, total liabilities were at $3,408.48 million as on Nov. 30, 2016, up 2.52 percent or $83.94 million from year-ago.

Return on assets moved down 22 basis points to 0.74 percent in the quarter. At the same time, return on equity moved down 43 basis points to 2.18 percent in the quarter.