Bad Housing For Toll Brothers (TOL)
Toll Brothers (TOL) had another bad quarter. No one will be surprised. In the2007’s fiscal fourth quarter, the TOL generated a net loss of $81.8 million, or $0.52 per share diluted, compared to the 2006’s fourth-quarter net income of $173.8…
Toll Brothers (TOL) had another bad quarter. No one will be surprised.
In the2007’s fiscal fourth quarter, the TOL generated a net loss of $81.8 million, or $0.52 per share diluted, compared to the 2006’s fourth-quarter net income of $173.8 million, or $1.07 per share diluted. The 2007’s fourth-quarter net loss included $314.9 million of pre-tax write-downs ($200.0 million, or $1.22 per share diluted, after-tax). The quarter ended on October 31.
TOL ended its 2007 fourth quarter with $900 million in cash and more than $1.2 billion available under its bank credit facility, which matures in 2011. Its net debt-to-capital ratio at October 31, 2007 stood at 26.8%, its lowest level ever, compared to 31.8% one year ago.
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.