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| Toll Brothers reports 3rd Qtr 2008 results Luxury US home builder Toll Brothers, Inc. reported final results for its third quarter and nine months ended July 31, 2008. The company generated a net loss of $29.3 million, or $0.18 per share diluted. After-tax write-downs totaled $84.3 million, or $0.53 per share diluted. Excluding write-downs, FY 2008's third-quarter earnings were $55.0 million, or $0.35 per share diluted. In FY 2007, third-quarter net income was $26.5 million, or $0.16 per share diluted, including pre-tax write-downs totaling $147.3 million. In FY 2008's first nine months, Toll Brothers generated a net loss of $219.0 million, or $1.38 per share diluted. Net income was $117.5 million, or $0.72 per share diluted. FY 2008's third-quarter total revenues of $797.7 million were 34% lower than FY 2007's third-quarter total revenues of $1.21 billion. FY 2008's nine-month total revenues of $2.46 billion were 29% lower than FY 2007's nine-month total revenues of $3.48 billion. FY 2008's third-quarter-end backlog of $1.75 billion was 52% lower than FY 2007's third-quarter-end backlog of $3.67 billion. FY 2008 third-quarter gross contracts of $588.1 million and 1,007 homes were 40% and 31% lower, respectively, than FY 2007's third-quarter totals of $972.2 million and 1,457 homes. The company ended its third quarter with over $1.5 billion in cash and more than $1.3 billion available under its 33-member bank credit facility, which matures in March 2011. write your comments about the article :: © 2008 Construction News :: home page |