Crisis Legal NewsClick here to add this website to your favorites
  rss
Crisis News Search >>>



Luxury homebuilder Toll Brothers Inc. said Tuesday its home building revenue dropped 41 percent in its fiscal fourth quarter as the financial crisis exacerbated ongoing weakness in the housing market.

Toll said preliminary home-building revenue declined to $691 million in the three months ended Oct. 31 from $1.17 billion, while backlog dropped 54 percent to $1.33 billion from $2.85 billion.

Net signed contracts for the quarter also slid 27 percent to $266.7 million from $365.3 million.

For the fiscal year, home-building revenue declined 32 percent to $3.15 billion, and net signed contracts declined 47 percent to $1.61 billion.

Toll ended the fiscal year with $1.63 billion in cash and believes this liquidity can help the company weather turmoil in the industry.

Its shares fell 37 cents, or 2 percent, to $18.58 in morning trading Tuesday. They have traded in a 52-week range of $15.49 to $28.

Chief Executive Robert I. Toll said the preliminary signs of stability in the market discussed by the company in early September were reversed by the financial crisis. At that time, Toll said there were signs of a stabilizing market, as Toll had the lowest contract cancellation rate in more than two years, and more buyers were putting down deposits.


© Crisis Legal News - All Rights Reserved.

The content contained on the web site has been prepared by Legal Crisis News
as a service to the internet community and is not intended to constitute legal advice or
a substitute for consultation with a licensed legal professional in a particular case or circumstance.
 Law Firm Web Design Information
Law Promo can construct your law firm a brand new responsive website, or help you redesign your existing site to secure your place in the mobile world. We believe our work speaks for itself by showcasing quality design while reflecting our extensive experience in the online legal marketing industry. Law Firm Website Designs by Law Promo.| Law Firm Logo Design
   Latest Crisis Legal News
   Sponsored Links
Chicago Business Law Attorney
Corporate Litigation Attorneys
www.rothlawgroup.com
Fort Lauderdale Criminal Defense Lawyer
Miami Sex Crimes Lawyer
www.mishalilaw.com
Fort Washington Employment Law Firm
Attorney Marc E. Weinstein
www.meweinsteinlaw.com
Santa Ana Workers' Compensation Lawyers
www.gentryashtonlaw.com
Car Accidents Attorneys
New Rochelle Personal Injury
www.kboattorneys.com
Eugene Criminal Defense
Law Office of Max J Mizejewski
Family Law. Call 541.505.9872
www.mjmlawoffice.com
CPA Accounting Web Design
Finanace Office Web Designs
www.webpromo.com
Lorain Elyria Divorce Lawyer
www.loraindivorceattorney.com
New York Adoption Lawyers
New York Foster Care Lawyers
Adoption Pre-Certification
www.lawrsm.com
Cobb County Criminal Attorney
Georgia Criminal Defense Lawyer
www.andrewschwartzlaw.com
San Francisco Trademark Lawyer
San Jose Trademark Lawyer
www.onulawfirm.com
Eugene Chapter 7 Bankruptcy Lawyer
Oregon Chapter 7 Bankruptcy Lawyer
www.willamettevalleybankruptcy.com