Marianna buys TOL 36.05: FY 2015's nine-month pre-tax income was $318.0 million, compared to FY 2014's nine-month pre-tax income of $316.0 million.

FY 2015's nine-month net income was $216.0 million, or $1.17 per share diluted, compared to FY 2014's nine-month net income of $208.5 million, or $1.13 per share diluted. FY 2014's third-quarter results included pre-tax inventory impairments of $6.0 million ($4.8 million attributable to an operating community and $1.2 million attributable to future communities) and a $7.0 million reserve reversal. FY 2015's third-quarter results included pre-tax inventory impairments totaling $18.0 million ($6.0 million attributable to an operating community and $12.0 million attributable to future communities) and a $4.9 million net increase in reserves. FY 2015's third-quarter pre-tax income was $107.5 million, compared to FY 2014's third-quarter pre-tax income of $151.3 million. We are currently leasing up three new communities totaling about 1,100 units - one in downtown Washington, DC, one in suburban Philadelphia and our newest offering - a 417 unit, 38-story tower in Jersey City.


Cleo:
The Company operates its own architectural, engineering, mortgage, title, land development and land sale, golf course development and management, home security, and landscape subsidiaries.

Raye:
Toll Brothers builds an array of luxury residential single-family detached, attached home, master planned resort-style golf, and urban low-, mid-, and high-rise communities, principally on land it develops and improves.

Rossie:
Toll Brothers, Inc., A FORTUNE 1000 Company, is the nation's leading builder of luxury homes.

Marlo:
The call can be heard live with an online replay which will follow.

Chantelle:
Participants are encouraged to log on at least fifteen minutes prior to the start of the presentation to register and download any necessary software.

Christiana:
At third-quarter end, the average price of homes in backlog was $829,000, compared to $737,000 at FY 2014's third-quarter end.

Beverley:
We believe that, as the job picture continues to improve, greater demand should lead to rising home prices, which should encourage more people to sell their existing homes and move up or add a second home.

Terisa:
Population continues to grow, yet the supply of homes on the market remains well below historic norms as does new home production.

Minerva:
The growth in our backlog, contracts, and joint ventures is adding costs prior to recognition of revenue.

Zulma:
We expect to end FY 2015 with between 270 and 285 selling communities.

Toll Brothers Inc. (NYSE:TOL)
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