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| Toll Brothers reports FY 2010 2nd qtr and 6 month results Toll Brothers, Inc. (NYSE:TOL), the US's leading builder of luxury homes, announced results for earnings, revenues, contracts and backlog for its second quarter ended April 30, 2010. The Company reported a FY 2010 second-quarter net loss of $40.4 million, or $0.24 per share diluted, compared to FY 2009's second-quarter net loss of $83.2 million, or $0.52 per share diluted. FY 2010's second-quarter revenues and home building deliveries of $311.3 million and 543 units declined 22% in dollars and 16% in units, compared to FY 2009's second quarter results. FY 2010's second-quarter-end backlog of $993.5 million or 1,738 units increased 5% in dollars and 10% in units, compared to FY 2009's second-quarter-end backlog. For FY 2010's six-month period, the Company reported a net loss of $81.2 million, or $0.49 per share diluted compared to FY 2009's six-month-period net loss of $172.1 million, or $1.07 per share diluted. For FY 2010's first six months, home building revenues of $638.0 million and 1, 139 units declined 21% in dollars and 13% in units, compared to FY 2009. FY 2010 net signed contracts of $756.6 million and 1, 346 units increased 78% in dollars and 59% in units, compared to FY 2009. Toll Brothers ended FY 2010's second quarter with a net-debt-to-capital ratio of 16.2%, compared to 13.1% at FY 2009's second-quarter end. The Company ended FY 2010's second quarter with $1.55 billion of cash and marketable U.S. Treasury securities, compared to $1.75 billion at FY 2010's first-quarter end and $1.96 billion at FY 2009's second-quarter end. The decline in cash between FY 2010's first and second quarters was due primarily to the Company's use of $52 million to retire project-level debt and $143 million for the purchase of land. At FY 2010's second-quarter end, the Company also had $1.40 billion available under its $1.89 billion 30-bank credit facility, which matures in March 2011. write your comments about the article :: © 2010 Construction News :: home page |