Toll Bros. gives revenue warning
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From Times Wire Services
Toll Bros. expects a 36% drop in quarterly home-building revenue and said net home orders fell more steeply than in prior quarters.
Toll Bros., the largest U.S. luxury home builder, signed 1,073 contracts in the fourth quarter, down 33% from a year earlier. The value of the contracts fell 38% to $693.7 million.
Home-building revenue for the fourth quarter ended Oct. 31 was $1.17 billion, based on preliminary results.
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