Toll Brothers (TOL): Q2 home-building revenue fell 51% to $388M. Units sold fell 47% to 648....

|About: Toll Brothers Inc. (TOL)|By:, SA News Editor
Toll Brothers (TOL): Q2 home-building revenue fell 51% to $388M. Units sold fell 47% to 648. Backlog down 55% to $994M. Net signed contracts down 40% to $298M. Cash position increased to $1.96B from 41.53B last quarter. Continued to reduce the number of lots it controls. Says it has "a few reasons for cautious optimism," mainly that deposits were higher for seven of nine weeks vs. the same weeks last year. Shares +2% premarket. (MW)