Toll Bros. loses $111 million in Q4, but sees hope

Toll Brothers Inc. lost $111.4 million in the fiscal fourth quarter, but the luxury homebuilder is seeing signs of a turnaround in the housing market.

The company's loss of 68 cents a share was largely due to continued write downs on the value of its land holdings and staff reductions. Excluding those charges, the builder almost broke even. In the year-ago quarter, which included a larger amount of write downs, Toll lost $78.8 million, or 49 cents a share.

Revenue for the quarter ended Oct. 31 fell 30 percent to $486.6 million from $691.1 million.

Read Full Article from The Associated Press

- Posted: 2009-12-03 13:53:33

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