Toll Brothers, Inc. (TOL) reported a fourth-quarter net loss of $111.4 million or $0.68 per share, compared to a net loss of $78.8 million or $0.49 per share in the year ago quarter.
The latest quarter results included a $85.5 million of non-cash pre-tax inventory write-downs, a pre-tax charge of $11.6 million due to early retirement of debt and a $14.6 million non-cash expense for deferred tax asset valuation allowances. The prior year results included a $175.9 million of non-cash pre-tax inventory and other write-downs and an $11.1 million non-cash expense for deferred tax asset valuation allowances.
Excluding write-downs and charges for early retirement of debt, pre-tax loss for the latest quarter was $9.6 million. Pre-tax earnings, excluding inventory and other write-downs, were $69.9 million for the prior year quarter.
Revenues for the quarter were $486.59 million, compared to $691.13 million in the prior year quarter.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.46 per share on revenues of $450.10 million for the quarter. Analysts' estimates typically exclude special items.
The Company's fiscal 2009 fourth-quarter home building deliveries and revenues of 860 units and $486.6 million declined 20% in units and 30% in dollars, and its fourth-quarter-end backlog of 1,531 units and $874.8 million declined 25% in units and 34% in dollars, compared to fiscal 2008's fourth-quarter.
The company currently estimate that it will deliver between 2,000 and 2,750 homes in fiscal 2010 at an average price of between $540,000 and $560,000 per home.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.