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Toll Brothers, Inc.
Toll Brothers Reports Preliminary 4th Qtr and FY 2008 Totals for Home Building Revenues, Backlog and Contracts
HORSHAM, Pa., Nov. 11, 2008 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL) (www.tollbrothers.com), the nation's leading builder of luxury homes, today reported that, for its fourth quarter ended October 31, 2008, home building revenues were approximately $691.0 million (1,079 units), backlog was approximately $1.33 billion (2,046 units) and net signed contracts were approximately $266.7 million (539 units). These totals represent declines of 41%, 54% and 27%, respectively, in dollars, and 35%, 48% and 18%, respectively, in units, compared to FY 2007's fourth-quarter results. The Company ended FY 2008's fourth quarter with approximately $1.63 billion of cash compared to $1.50 billion at FY 2008's third-quarter-end.