Quarterly Results (unaudited) (Tables)

12 Months Ended

Nov. 30, 2020

Quarterly Financial Information Disclosure [Abstract]

The following tables present our consolidated quarterly results for the years ended November 30, 2020 and 2019 (in thousands, except per share amounts):


	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2020
Revenues	$	1,075,935	$	913,970	$	999,013	$	1,194,256
Gross profits	188,920		168,634		199,462		241,624
Inventory impairment and land option contract abandonment charges	5,672		4,379		6,888		11,730
Pretax income (a)	68,848		67,789		101,315		126,091
Net income	59,748		51,989		78,415		106,091
Earnings per share:
Basic	.66		.57		.86		1.16
Diluted	.63		.55		.83		1.12

2019
Revenues	$	811,483	$	1,021,803	$	1,160,786	$	1,558,675
Gross profits	139,604		177,019		216,029		306,834
Inventory impairment and land option contract abandonment charges	3,555		4,337		5,251		4,148
Pretax income (b)	34,511		56,761		91,936		164,967
Net income	30,011		47,461		68,136		123,167
Earnings per share:
Basic	.34		.54		.77		1.37
Diluted	.31		.51		.73		1.31

(a)Pretax income for the second quarter included $6.7 million of severance charges.

(b)Pretax income for the fourth quarter included a $6.8 million loss on the early extinguishment of debt.