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Quarterly Results (unaudited)
12 Months Ended
Nov. 30, 2016
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Results (unaudited)
Quarterly Results (unaudited)
The following tables present our consolidated quarterly results for the years ended November 30, 2016 and 2015 (in thousands, except per share amounts):
 
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
2016
 
 
 
 
 
 
 
Revenues
$
678,371

 
$
811,050

 
$
913,283

 
$
1,191,942

Gross profits
108,694

 
121,465

 
151,902

 
167,667

Inventory impairment and land option contract abandonment charges
1,966

 
11,740

 
3,052

 
36,054

Pretax income
16,027

 
24,797

 
53,463

 
55,028

Net income
13,127

 
15,597

 
39,363

 
37,528

Earnings per share:
 
 
 
 
 
 
 
Basic
$
.15

 
$
.18

 
$
.46

 
$
.44

Diluted
.14

 
.17

 
.42

 
.40

 
 
 
 
 
 
 
 
2015
 
 
 
 
 
 
 
Revenues
$
580,121

 
$
622,969

 
$
843,157

 
$
985,783

Gross profits
86,739

 
97,631

 
133,099

 
171,482

Inventory impairment and land option contract abandonment charges
448

 
536

 
3,532

 
5,075

Pretax income
10,499

 
12,673

 
33,954

 
69,917

Net income
7,799

 
9,573

 
23,254

 
44,017

Earnings per share:
 
 
 
 
 
 
 
Basic
$
.08

 
$
.10

 
$
.25

 
$
.48

Diluted
.08

 
.10

 
.23

 
.43


Quarterly and year-to-date computations of per share amounts are made independently. Therefore, the sum of per share amounts for the quarters may not agree with per share amounts for the year.