August 31, 2010
Revenue drops for U.S. homebuilder Toll Brothers
HORSHAM, Pa.
Toll Brothers Inc. said August 25 that it posted a profit in its fiscal third quarter, as the luxury homebuilder snagged important tax benefits and posted fewer write-downs.
The company earned US$27.3 million for the quarter that ended in late July compared with a loss of $472.3 million last year.
■Revenue drops for U.S. homebuilder Toll Brothers
■Luxury homebuilder Toll Brothers Inc. sees rising confidence
Excluding one-time write-downs, the company said its pretax adjusted income more than tripled to $13.3 million.
Revenue slipped to $454.2 million from $461.4 million the year before.
Toll Brothers said its signed contracts fell 16 per cent in the quarter to 701 units. The value of those units also fell 11 per cent to $400.1 million dollars. The company said it delivered 803 units during the quarter, a slight increase.
Associated Press
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