|
Toll Brothers Joins Fortune 500
HORSHAM, Pa., Apr 7, 2005 -- Toll Brothers, Inc. (TOL), (www.tollbrothers.com),
the nation's leading builder of luxury homes, today announced its entry into
the Fortune 500 of America's Largest Companies. Fortune magazine highlighted
Toll Brothers, No. 477 in the group (based on revenues), for its revenue
growth of 40% and net income growth of 57.5% in FY 2004 and its 25% average
annual growth rate in shareholders' equity since 1994. The Company ranked
No. 264 in the Fortune 500 in FY 2004 net income, No. 107 in FY 2004 net
profit margin and No. 36 among all companies in ten-year earnings per share
growth, producing a 25% compound average annual rate of EPS growth from 1994
to 2004. Within the Fortune 500, the Company's Total Return to Investors
ranked No. 27 and No. 20 for FY 2004 and the ten-year period from 1994 to
2004, respectively.
Fortune further spotlighted Toll Brothers in a five-page article entitled,
"New King of the Real Estate Boom," noting, "With housing sales soaring,
homebuilders are the toast of this year's Fortune 500 -- and none is riding
higher than luxury specialist Toll Brothers." The article continued: "Toll
has constructed an organization with a level of specialization and
efficiency that is unmatched in the business."
Robert I. Toll, chairman and chief executive officer of Toll Brothers,
stated: "Becoming a member of the Fortune 500 is solely as a result of the
outstanding efforts of all Toll Brothers associates. We have achieved this
growth in size and profits by sticking to our formula. We have remained
focused on the luxury market. We have diversified both geographically and
across luxury product lines. And we have set, as our highest priority, the
providing of excellent customer service and luxurious homes and communities
to our buyers. With projected growth in revenues of greater than 35% and in
net income of approximately 60% in FY 2005, we hope to continue to rise in
the Fortune 500."
"Toll Brothers and ten other publicly traded home building companies are
members of the 2005 Fortune 500; four other home building companies are in
the Fortune 1000. This highlights the growth and increased sophistication of
these large, public firms. It is a testament, we believe, to their evolution
from regional players dependent on local economies, to diversified home
building companies with national scope, and diversified land portfolios and
geographic operations that enable them to manage risk as capably as any
other major U.S. industries. In an economic environment defined primarily by
the recent multi-year recession, FORTUNE notes that through 2004 'home
builders rank first among all industries in five-year return to investors.
...'"
Toll Brothers, Inc. is the nation's leading builder of luxury homes. The
Company began business in 1967 and became a public company in 1986. Its
common stock is listed on the New York Stock Exchange and the Pacific
Exchange under the symbol "TOL." The Company serves move-up, empty-nester,
active-adult and second-home home buyers and operates in 20 states: Arizona,
California, Colorado, Connecticut, Delaware, Florida, Illinois,
Massachusetts, Maryland, Michigan, Nevada, New Jersey, New York, North
Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Texas, and
Virginia.
Toll Brothers builds luxury single-family detached and attached home
communities, master planned luxury residential resort-style golf communities
and urban low, mid- and high-rise communities, principally on land it
develops and improves. The Company operates its own architectural,
engineering, mortgage, title, land development and land sale, golf course
development and management, home security, landscape, cable T.V. and
broadband Internet delivery subsidiaries. The Company also operates its own
lumber distribution, and house component assembly and manufacturing
operations.
Toll Brothers is the only publicly traded national home building company to
have won all three of the industry's highest honors: America's Best Builder
from the National Association of Home Builders, the National Housing Quality
Award and Builder of the Year. For more information visit
www.tollbrothers.com.
Certain information included herein and in other Company
reports, SEC filings, statements and presentations is forward-looking within
the meaning of the Private Securities Litigation Reform Act of 1995,
including, but not limited to, statements concerning anticipated operating
results, financial resources, changes in revenues, changes in profitability,
interest expense, growth and expansion, anticipated income from joint
ventures and the Toll Brothers Realty Trusts Group, the ability to acquire
land, the ability to secure governmental approvals and the ability to open
new communities, the ability to sell homes and properties, the ability to
deliver homes from backlog, the average delivered price of homes, the
ability to secure materials and subcontractors, the ability to maintain the
liquidity and capital necessary to expand and take advantage of future
opportunities, and stock market valuations. Such forward-looking information
involves important risks and uncertainties that could significantly affect
actual results and cause them to differ materially from expectations
expressed herein and in other Company reports, SEC filings, statements and
presentations. These risks and uncertainties include local, regional and
national economic conditions, the demand for homes, domestic and
international political events, uncertainties created by terrorist attacks,
the effects of governmental regulation, the competitive environment in which
the Company operates, fluctuations in interest rates, changes in home
prices, the availability and cost of land for future growth, the
availability of capital, uncertainties and fluctuations in capital and
securities markets, changes in tax laws and their interpretation, legal
proceedings, the availability of adequate insurance at reasonable cost, the
ability of customers to finance the purchase of homes, the availability and
cost of labor and materials, and weather conditions.
SOURCE: Toll Brothers, Inc.
|
|
