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Housing

Another Bad Patch For Toll Brothers (TOL), Hints At Long Slowdown

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By Douglas A. McIntyre Published
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Toll Brothers (TOL) said for the fourth quarter, home building revenues of approximately $1.17 billion declined 36% compared to FY 2006’s fourth quarter results. Backlog of approximately $2.85 billion declined 36% compared to FY 2006. The quarter ending October 31.

Gross signed contracts for FY 2007’s fourth quarter of approximately $693.7 million and 1,073 homes declined 38% and 33%, respectively, versus FY 2006’s same period totals of $1.12 billion and 1,595 homes.

Robert Toll, the CEO, stated: “In the last cycle, the down period lasted from late 1987 until early 1991; we have been in the current down period since September 2005. We can’t predict how long this down period will last, but the foundation of the housing market – primarily solid demographics – has remained strong. Many of our prospective clients are on the sidelines watching and waiting."

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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