Printer Friendly

TOLL BROTHERS ANNOUNCES RECORD NEW SALES CONTRACTS FOR THIRD QUARTER: BACKLOG REACHES HIGHEST LEVEL EVER

 HUNTINGDON VALLEY, Pa., Aug. 5 /PRNewswire/ -- Toll Brothers, Inc. (NYSE: TOL), a builder of luxury homes in the Northeast and Mid-Atlantic regions, today announced that new sales contracts signed in its third fiscal quarter ended July 31, 1993, were the highest for any third quarter in the company's history, and that the aggregate sales value of the company's backlog of homes under contract at July 31, 1993, had reached the highest level ever.
 For the three months ended July 31, 1993, the aggregate sales value of new contracts signed was approximately $105 million, consisting of 345 homes. The previous third quarter record of $83.5 million, consisting of 287 homes, was achieved in fiscal 1992. This marks the tenth consecutive quarter in which the company has set a record for a comparable quarter's sales value of new contracts signed.
 The company's backlog of homes under contract at July 31, 1993, reached a record sales value of approximately $282 million, consisting of 912 homes, as compared with a backlog of $190.9 million, consisting of 633 homes, at July 31, 1992. The previous record backlog of $278.2 million, consisting of 909 homes, was achieved at April 30, 1993.
 Robert I. Toll, the company's chairman and chief executive officer, stated, "Although we have been able to achieve record contract signings and backlog levels, we remain cautious due to a weakness in consumer confidence."
 Toll Brothers, Inc. designs, builds, markets and arranges financing for luxury single family homes, townhomes and condominiums in the Northeast and Mid-Atlantic regions.
 /delval/
 -0- 8/5/93
 /CONTACT: Joseph R. Sicree, chief accounting officer of Toll Brothers, 215-938-8045/
 (TOL)


CO: Toll Brothers, Inc. ST: Pennsylvania IN: CST SU:

CC -- PH019 -- 9863 08/05/93 11:59 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 5, 1993
Words:290
Previous Article:APOLLO X ASTRONAUT, LT. GENERAL THOMAS P. STAFFORD JOINS SPECTRUM'S TECHNICAL ADVISORY BOARD
Next Article:AUDRE ANNOUNCES UNIX RELEASE 1.1, INTRODUCES NEW LEVEL OF AUTOMATED DOCUMENT CONVERSION
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters