- Third quarter 2004 was the best quarter in Toll Brothers' history for key financial metrics like net income, earnings per share, revenues, contracts, and backlog. Net income rose 56% and earnings per share rose 46% compared to the prior year quarter.
- Demand for luxury homes remained strong throughout 2004 and Toll Brothers expects continued growth, projecting approximately 30% net income growth in fiscal year 2005 and 20% revenue and net income growth in fiscal year 2006.
- Studies project continued strong demand for new homes over the next decade, ranging from 1.85 to 2.17 million units annually, while constraints on land supply are expected to result in shortages, particularly in affluent markets. Toll Brothers has
what is the future of Pi Network currency.DOT TECH
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The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
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1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
how can i use my minded pi coins I need some funds.DOT TECH
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If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. đ I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
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As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
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In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
where can I find a legit pi merchant onlineDOT TECH
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Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
Exploring Abhay Bhutadaâs Views After Poonawalla Fincorpâs Collaboration With...beulahfernandes8
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The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
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Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
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The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a âRoaring Twentiesâ? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. governmentâs aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
âIn order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,â says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
how to sell pi coins in South Korea profitably.DOT TECH
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Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
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Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
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The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new productâit signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
The secret way to sell pi coins effortlessly.DOT TECH
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Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
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Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...
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TOL_2004_3rd_qtr_report
1. Huntingdon Valley, PA 19006-4298
For The Three Months
Ended July 31, 2004
Third Quarter Report
The Henley Williamsburg at Potomac View, Potomac, Maryland
The Henley Williamsburg at Potomac View, Potomac, Maryland
3rd Quarter Report
A LETTER TO OUR SHAREHOLDERS:
3103 Philmont Avenue
Third quarter 2004 was the best quarter in our In the 1970s, the decade when home production
history for net income, earnings per share, reached its highest level, our industry produced
revenues, contracts and backlog. Net income on average 1.77 million new single- and multi-
rose 56%; earnings per share rose 46%; revenues family units annually. Since 2000, with nearly
rose 46%; contracts rose 69%; and our quarter- twice as many U.S. households, production has
end backlog rose 75%. only averaged 1.68 million starts annually, as
regulatory constraints have limited supplies.
FY 2004 will be our twelfth consecutive year of Two recent studies â one from Harvard
record earnings. Buyer appetite for new luxury University and the other from the
homes has remained tremendous throughout Homeownership Alliance â project that new
2004 and we are enjoying strong demand across home demand will be even greater for the next
all our product lines. Based on our quarter-end ten years â it will range from 1.85 million to
backlog, which affords revenue visibility over 2.17 million units annually.
the next nine to twelve months, and the pace of
current demand, we believe weâll achieve With the imbalance between growing demand
approximately 30% net income growth (25% and a constrained land supply, we expect there
earnings per share growth) in FY 2005. Based on will be a shortage of home sites to meet demand
our projections of increased communities in the in the next decade, particularly in affluent
coming year, assuming continuing strong markets, and have positioned ourselves
demand, we believe that 20% revenue and net accordingly. We now own or control more than
income growth should be achievable in FY 2006. 61,000 home sites and offer diversified luxury
move-up, empty-nester and active-adult product
We continue to demonstrate our ability to grow lines across a wide range of price points.
dramatically in a very difficult economy: Since
2000, despite an economic recession, dramatic We are excited about our prospects for the
job losses, a severe stock market slump, and future. We wish to thank our home buyers
global political turmoil, we have doubled our and shareholders for placing their trust in us,
revenues and net income. Much of our success and our associates, whose commitment to
can be attributed to the tremendous hard work our customers and investors continues to make
of our associates. We also believe it reflects the us proud.
strength of the luxury market, our brand name,
our geographic and product diversification, and
our ability to control land and persevere
through the increasingly difficult regulatory
approval process.
The growing number of affluent U.S.
households, constraints on lot supplies and a Robert I. Toll Bruce E. Toll
versatile and abundant home mortgage market Chairman of the Board Vice Chairman
and Chief Executive Officer of the Board
have contributed to the industryâs environment
of greater stability and reduced cyclicality. This
has helped promote strong and steady demand
across all of our price points in the luxury market Zvi Barzilay
and fueled our growth during these difficult President and Chief Operating Officer
Permit No. 1726
PAID
First-Class Mail
Brooklyn, NY
U.S. Postage
economic times. August 25, 2004
2. CONSOLIDATED CONDENSED STATEMENTS OF INCOME
CORPORATE PROFILE
FIVE-YEAR PERFORMANCE OVERVIEW
(Amounts in thousands, except per share data)
Toll Brothers (NYSE: TOL) is the nationâs leading Toll Brothers operates its own architectural,
$1,013
(Unaudited)
$106.0 builder of luxury homes. A Fortune 600 company, engineering, mortgage, title, land development and
110 1020 Nine Months Three Months
Toll Brothers was formed in 1967 and has been land sale, golf course development and management, Ended July 31 Ended July 31
traded on the New York Stock Exchange since 1986. home security, landscape, cable TV and broadband
2004 2003 2004 2003
Revenues:
Internet access subsidiaries. Toll Brothers also
The Company serves move-up, empty-nester,
88 816 Home sales $2,395,150 $1,837,386 $ 991,264 $ 678,523
maintains its own lumber distribution and house
active-adult and second-home buyers from 215 urban
$694 Land sales 20,938 21,027 12,940 7,640
component assembly and manufacturing operations.
$68.2 and suburban selling communities in 6 regions and Equity earnings in unconsolidated entities 6,945 700 5,551 555
$584 $581
Interest and other 7,483 12,764 3,364 6,967
21 states: Arizona, California, Colorado, Connecticut, Toll Brothers is the only national home building
66 $59.4 612
2,430,516 1,871,877 1,013,119 693,685
Delaware, Florida, Illinois, Massachusetts, Maryland, company to have won all three of the industryâs
$53.5
$465
Michigan, Nevada, New Hampshire, New Jersey, highest honors: Americaâs Best Builder, the National Costs and expenses:
Home sales 1,716,535 1,334,645 709,484 492,239
New York, North Carolina, Ohio, Pennsylvania, Housing Quality Award and Builder of the Year. For
44 408
$37.2
Land sales 14,315 13,462 7,509 2,745
Rhode Island, South Carolina, Texas, and Virginia. more information, visit www.tollbrothers.com.
Selling, general and administrative 270,155 206,354 103,608 73,216
Interest 59,970 50,135 24,216 17,630
CONSOLIDATED CONDENSED
22 204
Expenses related to early retirement of debt 8,229 3,890 481 -
BALANCE SHEETS 2,069,204 1,608,486 845,298 585,830
July 31, 2004 Oct. 31, 2003
(Amounts in thousands)
2000 2002 2003 2004
2001 2000 2002 2003 2004
2001 Income before income taxes 361,312 263,391 167,821 107,855
(Unaudited)
ASSETS
Income taxes 132,775 96,953 61,806 39,696
Net Income (in millions) Total Revenues (in millions) Cash and cash equivalents $ 197,914 $ 425,251
Net income $ 228,537 $ 166,438 $ 106,015 $ 68,159
Three Months Ended July 31 Three Months Ended July 31
Inventory 3,888,738 3,080,349
Property, construction and office equipment, net 48,494 43,711
$1,606 Earnings per share:
Receivables, prepaid expenses and other assets 155,699 113,633
$4,346
4500
1600 Basic $ 3.08 $ 2.38 $ 1.43 $ 0.98
Mortgage loans receivable 90,929 57,500
Diluted $ 2.82 $ 2.23 $ 1.31 $ 0.90
Customer deposits held in escrow 55,042 31,547
Investments in and advances to unconsolidated entities 83,332 35,400
Weighted average number of shares:
3600
1280
$4,520,148 $3,787,391
Basic 74,199 70,038 74,352 69,848
LIABILITIES AND STOCKHOLDERSâ EQUITY Diluted 81,055 74,481 80,920 75,534
$952
Liabilities:
$2,480
2700
960
Loans payable $ 344,548 $ 281,697
Senior notes 845,540 546,669 Housing Data 2004 2003 2004 2003
$700 $1,899
Subordinated notes 450,000 620,000 Number of homes closed 4,232 3,333 1,684 1,188
$1,570
$541
640 1800 Mortgage company warehouse loan 82,061 49,939
$528 Sales value of homes closed (in 000âs) $2,395,100 $ 1,837,400 $ 991,300 $ 678,500
$1,455
Customer deposits 287,708 176,710 Number of homes contracted 6,436 4,383 2,329 1,668
Accounts payable 177,910 151,730 Sales value of homes contracted (in 000âs) $4,109,100 $2,458,900 $1,606,200 $ 951,600
Accrued expenses 438,426 346,944 Number of homes in backlog 6,856 4,392 6,856 4,392
900
320
Income taxes payable 163,624 137,074 Sales value of homes in backlog (in 000âs) $4,345,800 $2,480,300 $4,345,800 $2,480,300
Total liabilities 2,789,817 2,310,763
2000 2002 2003 2004 2000 2002 2003 2004
2001 2001 Stockholdersâ equity:
Preferred stock, none issued
Contracts (in millions) Backlog (in millions)
Common stock 770 770
Three Months Ended July 31 At July 31
Additional paid-in capital 203,863 190,596
Retained earnings 1,590,156 1,361,619
Treasury stock (64,458) (76,357)
Statement on Forward-looking Information
Total stockholdersâ equity 1,730,331 1,476,628
Certain information included herein and in other Company reports, SEC filings, statements and presentations is forward-looking within the meaning of
$4,520,148 $3,787,391 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
Toll Brothers, Inc. Corporate Office 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
3103 Philmont Avenue ⢠Huntingdon Valley ⢠PA 19006 and properties, the ability to deliver homes from backlog, the average delivered price of homes, the ability to secure materials and subcontractors, the ability
215-938-8000 ⢠www.tollbrothers.com ⢠NYSE â âTOLâ 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
Investor Relations 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
Frederick N. Cooper, Senior Vice President - Finance â 215-938-8312
governmental regulation, the competitive environment in which the Company operates, fluctuations in interest rates, changes in home prices, the
fcooper@tollbrothersinc.com 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,
Joseph R. Sicree, Vice President - Chief Accounting Officer â 215-938-8045
the availability and cost of labor and materials, and weather conditions.
jsicree@tollbrothersinc.com MKT-641