1st_qtr_2002

Toll Brothers had a very successful first quarter of 2002, with record earnings, revenues, and contracts. Net income increased 11% to $44.5 million, revenues grew 4% to $492.2 million, and signed contracts rose 8% to $485.2 million. The large backlog of $1.41 billion positions Toll Brothers for strong deliveries and growth. Demand remains healthy across their luxury home markets. Toll Brothers expects full year 2003 to be a record year with over $2.5 billion in revenues and $6 per share or more in earnings, driven by their expanding community count and favorable demographics of their customer base.