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| Toll Brothers reports 4Q and FY 2009 results Toll Brothers, Inc., the US's leading builder of luxury homes, reported a FY 2009 fourth-quarter net loss of $111.4 million, or $0.68 per share diluted. FY 2008's fourth-quarter net loss was $78.8 million, or $0.49 per share diluted. For its full fiscal year ended October 31, 2009, the company reported a net loss of $755.8 million, or $4.68 per share diluted. FY 2008's full-year net loss was $297.8 million, or $1.88 per share diluted. FY 2008's full-year pre-tax earnings were $341.9 million. FY 2009's fourth-quarter net signed contracts of 765 units and $430.8 million rose 42% in units and 62% in dollars compared to FY 2008's fourth-quarter totals. The company's contract cancellation rate (current-quarter cancellations divided by current-quarter signed contracts) was 6.9% in the fourth quarter of FY 2009, which was in line with its pre-downturn historical averages. FY 2009's average fourth-quarter net signed contracts of 3.56 units per community exceeded FY 2008's fourth-quarter average of 1.86 units per community by 91%. The Company's FY 2009 fourth-quarter home building deliveries and revenues of 860 units and $486.6 million declined 20% in units and 30% in dollars, and its fourth-quarter-end backlog of 1,531 units and $874.8 million declined 25% in units and 34% in dollars, compared to FY 2008's fourth-quarter. For the fiscal year ended October 31, 2009, net signed contracts of 2,450 units and $1.30 billion dollars declined 16% and 19% respectively, compared to FY 2008. The Company's FY 2009 home building deliveries and revenues of 2,965 units and $1.76 billion declined 37% in units and 44% in dollars compared to FY 2008. write your comments about the article :: © 2009 Construction News :: home page |