HUNTINGDON VALLEY, Pa., March 24, 2003 (PRIMEZONE) -- Toll Brothers, Inc. (NYSE:TOL), the nation's leading builder of luxury homes, has once again been selected by Forbes magazine to the elite "Forbes Platinum 400" -- the magazine's roster of the 400 best big companies in America.
In announcing the Platinum 400, Forbes notes: "In another daunting year for business, these Forbes 400 Platinum companies -- all with revenue of more than $1 billion -- showed the resilience to rise above their peers. To create this prestigious list, we looked across 23 industry groups and found big companies with the best aggregate scores for both long- and short-term financial returns, plus other performance and valuation measures."
Robert I. Toll, Toll Brothers' chairman and chief executive officer, stated: "This is a much appreciated honor and a tribute to the 3,000 Toll Brothers associates nationwide who have shown such diligence and commitment. Having produced over 20% compound average annual growth in revenues and earnings since going public in 1986, we have established a consistent record of strong and profitable performance. With a record $1.89 billion first quarter backlog and record first quarter results for earnings, revenues and contracts, we believe we are on track for another record year in fiscal 2003."
Toll Brothers, Inc. is the nation's leading builder of luxury homes. The Company began business in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange and the Pacific Exchange under the symbol "TOL". The Company serves move-up, empty-nester, active-adult and second-home home buyers and operates in 22 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Illinois, Massachusetts, Maryland, Michigan, Nevada, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, and Virginia.
Toll Brothers builds luxury single-family and attached home communities and master-planned multi-product residential golf course communities principally on land it develops and improves. The Company operates its own architectural, engineering, mortgage, title, land development and land sale, golf course development and management, home security, landscape, cable T.V. and broadband Internet delivery subsidiaries. The Company also operates its own lumber distribution, and house component assembly and manufacturing operations.
Toll Brothers is the only publicly traded national home building company to have won all three of the industry's highest honors: America's Best Builder from the National Association of Home Builders, the National Housing Quality Award and Builder of the Year. For more information visit www.tollbrothers.com.
Certain information included herein, in the Company's upcoming presentation, and in other Company reports, SEC filings, statements and presentations is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning anticipated operating results, financial resources, changes in revenues, changes in profitability, interest expense, growth and expansion, the ability to acquire land, the ability to secure governmental approvals and the ability to open new communities, the ability to sell homes and properties, the ability to deliver homes from backlog, the ability to secure materials and subcontractors, and stock market valuations. Such forward-looking information involves important risks and uncertainties that could significantly affect actual results and cause them to differ materially from expectations expressed herein and in other Company reports, SEC filings, statements and presentations. These risks and uncertainties include local, regional and national economic conditions, the demand for homes, domestic and international political events, the effects of governmental regulation, the competitive environment in which the Company operates, fluctuations in interest rates, changes in home prices, the availability and cost of land for future growth, the availability of capital, uncertainties and fluctuations in capital and securities markets, the availability and cost of labor and materials, and weather conditions.