Getting your player ready...
NEW YORK — Toll Brothers Inc., the nation’s largest builder of luxury homes, reported its first quarterly loss in 21 years Thursday as the housing downturn that the company called the worst in four decades deepened.
“By many measures, fiscal 2007 was the most challenging of the 40 years that Toll Brothers has been in business,” chairman and chief executive Robert Toll said in a statement.
Toll, based in Horsham, Pa., reported a loss of $81.8 million, or 52 cents per share, in its fiscal fourth quarter, compared with net income of $173.8 million, or $1.07 per share, a year ago.The company booked a charge of $314.9 million in write-downs.
