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Horsham, Pa.—based Toll Brothers announced Wednesdat that net signed contracts more than doubled inthe company’w fiscal year second quarter, endee April 30, compared to the priod quarter ended Jan. 31. The luxury home builder reporte 582 net signed contractsworth $298.4 million in the quarter, 119 percent higheer in number of contractd and 133 percent higher in dolla value from the fiscal 2009 first quarter. The number of net signed contracte in the fiscal 2009 second quarte r was 37 percent lower thanthe year-agop quarter.
Toll Brothers said that it typicall sees an increase in the fiscal year second quarter compared to the but the gains in the past two yearse weremore modest: up 44 percent in 2008 and up 60 percenty in 2007. Among other numbers released in the Toll Brothers said its revenue in the quarter declinerd 47 percentto $398.3 million, and its backlog fell 55 percenft to $944.3 million. The resultzs are preliminary. Toll Brothers expects to announcre final results onJune 3, 2009. Toll Brothers TOL) build homes in 21 statex up and down the East Coast and across the It has nearly four dozen active projectds in Virginiaand Maryland.
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