Industry News

Toll Brothers reports $82 million net loss in Q4

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Luxury home builder Toll Brothers Inc. (NYSE:TOL) today reported a quarterly net loss of $81.8 million, or 52 cents per share, for the quarter ended Oct. 31. It was the company's first quarterly loss in 21 years, though the loss was less than the 77 cents per share expected by Wall Street analysts, according to Thomson Financial Network data. Toll Brothers' stock was trading at $22.03 per share as of 11:41 a.m. ET today, up $1.31 compared to Wednesday's closing price of $20.72. Toll Brothers reported net income of $35.7 million for the full fiscal year ended Oct. 31, which compares to net income of $682.2 million for the 2006 fiscal year. "By many measures, fiscal 2007 was the most challenging of the 40 years that Toll Brothers has been in business," said Robert I. Toll, company chairman and CEO, in a statement, and, "This downturn may be our toughest test yet." Other large public builders have also taken major hits in the past year, with some companies reporting massive qua...