Toll Brothers Says It Expects a 22% Decline in Revenue
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Toll Brothers, the builder of luxury homes, said on Wednesday that it expected to report a 22 percent drop in first-quarter revenue and that it saw no sign of improvement in the depressed housing market.
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HORSHAM, Pa. -- Luxury homebuilder Toll Brothers Inc. said Thursday its fiscal second-quarter profit fell sharply, as the company took hefty charges to write down property values amid continued weakness in the housing market.
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The number of mortgages approved by banks fell 22% in August compared to the same month last year, figures show.
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Toll Brothers Inc.  on Thursday said the weak U.S. housing market drove down its quarterly profit by 67 percent after write-downs for lower land values, and the luxury home builder lowered its forecast.
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Luxury home builder Toll Brothers  on Thursday reported sharply lower quarterly net income, hurt by a downturn in the U.S. housing market.
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Luxury home builder Toll Brothers  said quarterly profit fell 79 percent, hurt by the U.S. housing slump, but its shares rose on Thursday along with its sector after government data showed a better-than-expected rise in new home sales.
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Toll Brothers Inc. , the largest U.S. builder of luxury homes, on Thursday said its quarterly net earnings fell sharply, after a $96.9 million write-down for the lower value of land, as the housing market continued to flounder.
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Business & money: BBA figures for December show 37.8% fall from previous year
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Yahoo Inc. YHOO.O said on Tuesday it   expects third-quarter revenue to be at the bottom half of its   forecast range due to weakness from two of its biggest   advertising segments, sending its shares down as much as 13   percent.
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Toll Brothers Inc. TOL.N on Thursday  said quarterly profit nearly doubled and raised its outlook for  the new fiscal year, citing strong demand for its luxury homes.
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Toll Brothers Inc. , the  largest U.S. luxury home builder, said on Wednesday signed  contracts were down 45 percent in the quarter just ended when  compared with a year ago, as the U.S. housing market continued  to slide.
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Toll Brothers also warned that write-downs were expected to balloon to $60 million to $160 million or more for the quarter.
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Luxury home builder Toll Brothers   on Thursday reported sharply lower quarterly net  income, hurt by a downturn in the U.S. housing market.
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PHILADELPHIA -- Toll Brothers Inc. , the nation's largest builder of luxury homes, said yesterday that it expected its first-quarter home building revenue to fall by 19 percent, signaling the housing market is likely to remain feeble in early 2007.
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A slowdown in automobile and financial advertising hurt the companyÂs advertising sales over the last few weeks.
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Luxury home builder Toll Brothers Inc.  on Thursday said it expects to report a 19-percent drop in home-building revenue.
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Toll Brothers Inc. , builder of  luxury homes, on Tuesday reported a fall in fourth-quarter  earnings amid continuing softness in some of the once-hottest  U.S. housing markets.