Builder Toll Brothers Reports Higher Q4 Sales

Horsham, PA, Nov. 8, 2011 -- Luxury homebuilder Toll Brothers reported preliminary fourth-quarter revenues and home building deliveries of approximately $427.7 million and 757 units, an increase of 6% in dollars and 8% in units, compared to a year ago.

The firm reported net signed contracts of approximately $389.9 million and 644 units, an increase of 24% in dollars and 15% in units over last year.

The average price of fourth-quarter net signed contracts was $606,000, up from $565,000 in the 2010 fourth quarter.

The company ended fiscal year 2011 with a backlog of approximately $981.1 million and 1,667 units, an increase of 15% in dollars and 12% in units, compared to a year ago.

For the fiscal year, home building revenues of were approximately $1.48 billion compared to $1.49 billion last year.

The company will disclose earnings on Dec. 6.