Toll Brothers Posts Narrower Loss

Toll Brothers Inc.'s fiscal second-quarter loss narrowed as the nation's largest builder of luxury homes recorded smaller write-downs, with the red ink excluding them less than analysts' expectations.

"Although cancellations appear to be leveling off, we believe that concerns about job security and the economy continue to inhibit traffic," said Chairman and Chief Executive Robert Toll. The company said deposits on homes have turned positive for nine of the past 11 weeks, and that while the company has offered promotions, on average, its buyers have been using the savings for upgrades.

Read Full Article from Wall Street Journal

- Posted: 2009-06-03 09:19:54

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