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| Toll Brothers reports FY 2011 2nd qtr and 6 month results Toll Brothers, Inc., the U.S.'s leading builder of luxury homes, announced results for earnings, revenues, contracts and backlog for its second quarter ended April 30, 2011. The company reported a FY 2011 second-quarter net loss of $20.8 million, or $0.12 per share compared to FY 2010's second-quarter net loss of $40.4 million, or $0.24 per share. FY 2011's second quarter included a net tax benefit of $10.7 million compared to an $11.4 million net tax benefit in FY 2010's second quarter. FY 2011's second-quarter revenues and home building deliveries of $319.7 million and 591 units rose 3% in dollars and 9% in units compared to FY 2010's second-quarter results. FY 2011's second-quarter-end backlog of $1.01 billion, or 1,760 units, increased 1% in both dollars and units compared to FY 2010's second-quarter-end backlog. For FY 2011's six-month period, the Company reported a net loss of $17.4 million, or $0.10 per share compared to FY 2010's six-month period net loss of $81.2 million, or $0.49 per share. FY 2011's six-month period included pre-tax write-downs and joint venture impairments totaling $57.6 million compared to $75.7 million in FY 2010's comparable period. FY 2011's six-month period included a net tax benefit of $31.2 million compared to a $27.4 million net tax benefit in FY 2010's six-month period. Excluding write-downs and joint venture impairments, FY 2011's six-month pre-tax income was $9.1 million compared to FY 2010's six-month pre-tax loss, excluding write-downs, of $32.8 million. For FY 2011's first six months, home building revenues of $653.8 million and 1,161 units increased 2% in both dollars and units compared to FY 2010. FY 2011 net signed contracts of $808.1 million and 1, 427 units increased 7% in dollars and 6% in units compared to FY 2010. write your comments about the article :: © 2011 Construction News :: home page |