This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Toll Brothers Reports FY 2011 1st Qtr Results

HORSHAM, Pa., Feb. 23, 2011 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL) (, the nation's leading builder of luxury homes, today announced results for earnings, revenues, contracts and backlog for its first quarter ended January 31, 2011.

Toll Brothers, Inc. (EPR) Brick house on the lake

The Company reported FY 2011 first quarter net income of $3.4 million, or $0.02 per share diluted, compared to a FY 2010 first quarter net loss of $40.8 million, or $0.25 per share diluted. FY 2011's first quarter included a net tax benefit of $20.4 million, compared to a $16.0 million net tax benefit in FY 2010's first quarter.

On a pre-tax basis, the Company reported a FY 2011 first quarter loss of $17.0 million, compared to a FY 2010 first quarter loss of $56.8 million. FY 2011's first quarter included pre-tax inventory and joint venture write-downs totaling $25.1 million compared to $33.4 million of inventory write-downs in FY 2010's first quarter. Excluding inventory and joint venture write-downs, FY 2011's first quarter pre-tax income was $8.1 million compared to a pre-tax loss of $23.4 million in FY 2010's first quarter.

FY 2011's first quarter revenues and home building deliveries of $334.1 million and 570 units rose 2% in dollars and declined 4% in units compared to FY 2010's first quarter results. FY 2011's first quarter average delivery price of $586,000 was 7% higher than FY 2010's same period average price.

During FY 2011's first quarter, the Company signed net contracts of $307.2 million and 548 units, an increase of 5% in dollars and 4% in units, compared to FY 2010's first quarter. The average price of $560,000 increased 1% from FY 2010's first quarter.

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs