Dec 3 · 12:11:00 PM · Source: Company News

Toll Brothers Inc., the largest U.S. luxury-home builder, Thursday said its fiscal fourth quarter net loss widened to $111 million for the three months ended Oct. 31, or 68 cents a share, from $79 million, or 49 cents, a year earlier. Fourth-quarter costs fell 23 percent to $592 million from a year earlier, while revenue declined 30 percent to $486.6 million. Toll wrote down the value of its property and work in progress by $85.5 million in the quarter, down from $176 million a year earlier.
The earnings were below analyst expectations.

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by Larry Etter