KB Home says its losses widened during its second quarter as sales dropped. It also took charges to lower the value of inventory, joint venture deals and land option contracts.

The Los Angeles-based homebuilder said Friday it lost $255.9 million, or $3.30 per share during the quarter ended May 31. It lost $148.7 million, or $1.93 per share, during the year-ago period.

KB Home says it took a charge of $176.5 million to cut the value of its inventory and to abandon some land option contracts.

It says revenue fell 55 percent to $639.1 million.

Thomson Financial says analysts were expecting a loss of 94 cents per share before items on sales of $691.3 million.