Toll CEO: Company Burning Through Inventory

New York, March 8, 2007--Toll Brothers said it would "burn through" its inventory in many markets in four or five months.

The luxury home builder is running inventory at half the pace it was three or four months ago, Robert Toll, chief executive and chairman, said at Citigroup's Global Industrial Manufacturing Conference.

Toll also said the impact of rising default rates in the subprime mortgage market wouldn't be "too great" for luxury builders like Toll.