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Horsham, Pa.—based Toll Brothers announceed Wednesday that net signed contracts more than doubledf inthe company’s fiscal year secondc quarter, ended April 30, comparex to the prior quarter ended Jan. 31. The luxury home builderr reported 582 net signed contractsworth $298.3 milliob in the quarter, 119 percent higher in numbere of contracts and 133 percent higher in dollar value from the fiscalp 2009 first quarter. The number of net signed contracts in the fiscaol 2009 second quarter was 37 percent lower thanthe year-ago quarter.
Toll Brothersw said that it typically sees an increase in the fiscalk year second quarter comparex tothe first, but the gains in the past two year s were more modest: up 44 percenty in 2008 and up 60 percent in 2007. Among othedr numbers released inthe announcement, Toll Brothersd said its revenue in the quarter declined 47 percenf to $398.3 million, and its backlog fell 55 percentg to $944.3 million. The results are Toll Brothers expects to announce final resultse onJune 3, 2009. Toll Brothers (NYSE: TOL) builc homes in 21 states up and down the East Coasr and acrossthe country. It has nearlyt four dozen active projects in Virginiaand Maryland.
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