Industry News

Toll Brothers Q4 revenue climbs to $1.46 billion

Luxury home builder reports record earnings for fiscal year

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Toll Brothers, a top builder of luxury homes, today reported record fourth-quarter and fiscal-year-end results for earnings, revenues, contracts and backlog for the period ended Oct. 31, 2004. The company's fourth-quarter earnings, revenues and backlog were the highest for any quarter in its history. The company announced record fourth-quarter revenues of $1.46 billion, up 62 percent from the same quarter a year ago, and record contracts of $1.53 billion, which rose 51 percent from last year. For the 2004 fiscal year, Toll Brothers announced record revenues of $3.89 billion, which grew 40 percent from last year; record contracts of $5.64 billion, which grew 62 percent; and a record fiscal year-end backlog of $4.43 billion, which grew 68 percent. "With our record backlog and the current strength of demand, we enter fiscal 2005 with great optimism," said Robert I. Toll, chairman and CEO of Toll Brothers. "Based on projected home building revenues of between $5 billion and $5.35 billion...