This document is Toll Brothers' Form 10-Q quarterly report filed with the SEC for the quarter ended April 30, 2001. It summarizes Toll Brothers' financial position, including revenues of $989.8 million, total assets of $2.3 billion, and total liabilities of $1.5 billion. It also reports net income of $85.7 million and earnings per share of $2.36 for the six months ended April 30, 2001. Toll Brothers' inventory increased to $2.1 billion as of April 30, 2001.
This document is Toll Brothers' quarterly report filed with the SEC for the quarter ending January 31, 2001. It includes condensed financial statements showing increased revenues and net income compared to the prior year. Assets totaled $2.2 billion as of January 31, 2001, with inventory comprising most of the assets. Total liabilities were $1.4 billion, leaving stockholders' equity of $801.8 million. For the quarter, housing and land sales increased compared to the prior year, resulting in net income of $39.9 million, up significantly from $22.4 million in the previous year.
This document is Toll Brothers' quarterly report filed with the SEC for the quarter ended April 30, 2002. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. It also provides notes to the financial statements and discusses forward-looking statements and risk factors that may affect future results.
This document is Toll Brothers Inc.'s Form 10-Q filing for the quarterly period ended July 31, 2000. It provides condensed financial statements and notes for the periods ended July 31, 2000 and 1999 including the balance sheet, income statement, and cash flow statement. Key details include revenues of $1.2 billion for the nine months ended July 31, 2000 compared to $1 billion for the same period in 1999. Net income was $87.6 million for the nine months of 2000 compared to $68.1 million in 1999.
This document is Toll Brothers' quarterly report filed with the SEC for the period ending January 31, 2002. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. Revenues increased from the prior year due to higher housing sales. Net income increased to $44.5 million from $39.9 million a year ago. Earnings per share increased to $1.27 from $1.10 in the prior year period. The company issued $150 million in senior subordinated notes in November 2001 to fund general corporate purposes including land acquisition.
This document is a Form 10-Q quarterly report filed with the SEC by KB Home. It provides financial statements and other information for the quarter ended May 31, 2005. The financial statements show total revenues of $3.77 billion for the six months ended May 31, 2005, with net income of $304.3 million. Construction operations generated pretax income of $460.1 million and mortgage banking operations generated pretax income of $978,000. The report also includes information on cash flows, segment reporting policies, and accounting policies for stock-based compensation.
This document is Toll Brothers' quarterly report filed with the SEC for the quarter ended July 31, 2003. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. It also provides notes to the financial statements and discusses items such as revenues, costs, assets, liabilities, and stockholders' equity. The report indicates that for the quarter ended July 31, 2003, Toll Brothers had revenues of $693.7 million, net income of $68.2 million, and basic earnings per share of $0.98.
This document is Toll Brothers Inc.'s quarterly report filed with the SEC for the quarter ended July 31, 2001. It summarizes Toll Brothers' financial position, including an increase in total assets to $2.4 billion from $2 billion the prior year. Revenues increased to $1.5 billion from $1.2 billion the prior year. Net income increased to $145 million from $88 million the prior year. The report provides condensed financial statements, notes to the financial statements, and management's discussion of financial results.
This document is Toll Brothers' Form 10-Q quarterly report filed with the SEC for the quarter ended April 30, 2003. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement, as well as notes to the financial statements. The financial statements show that for the quarter ended April 30, 2003, Toll Brothers had revenues of $607.9 million, net income of $52.9 million, and basic earnings per share of $0.76. Cash and cash equivalents increased to $211.3 million from $102.3 million at the end of the previous fiscal year.
This document is Toll Brothers' quarterly report filed with the SEC for the quarter ending January 31, 2001. It includes condensed financial statements showing increased revenues and net income compared to the prior year. Assets totaled $2.2 billion as of January 31, 2001, with inventory comprising most of the assets. Total liabilities were $1.4 billion, leaving stockholders' equity of $801.8 million. For the quarter, housing and land sales increased compared to the prior year, resulting in net income of $39.9 million, up significantly from $22.4 million in the previous year.
This document is Toll Brothers' quarterly report filed with the SEC for the quarter ended April 30, 2002. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. It also provides notes to the financial statements and discusses forward-looking statements and risk factors that may affect future results.
This document is Toll Brothers Inc.'s Form 10-Q filing for the quarterly period ended July 31, 2000. It provides condensed financial statements and notes for the periods ended July 31, 2000 and 1999 including the balance sheet, income statement, and cash flow statement. Key details include revenues of $1.2 billion for the nine months ended July 31, 2000 compared to $1 billion for the same period in 1999. Net income was $87.6 million for the nine months of 2000 compared to $68.1 million in 1999.
This document is Toll Brothers' quarterly report filed with the SEC for the period ending January 31, 2002. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. Revenues increased from the prior year due to higher housing sales. Net income increased to $44.5 million from $39.9 million a year ago. Earnings per share increased to $1.27 from $1.10 in the prior year period. The company issued $150 million in senior subordinated notes in November 2001 to fund general corporate purposes including land acquisition.
This document is a Form 10-Q quarterly report filed with the SEC by KB Home. It provides financial statements and other information for the quarter ended May 31, 2005. The financial statements show total revenues of $3.77 billion for the six months ended May 31, 2005, with net income of $304.3 million. Construction operations generated pretax income of $460.1 million and mortgage banking operations generated pretax income of $978,000. The report also includes information on cash flows, segment reporting policies, and accounting policies for stock-based compensation.
This document is Toll Brothers' quarterly report filed with the SEC for the quarter ended July 31, 2003. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. It also provides notes to the financial statements and discusses items such as revenues, costs, assets, liabilities, and stockholders' equity. The report indicates that for the quarter ended July 31, 2003, Toll Brothers had revenues of $693.7 million, net income of $68.2 million, and basic earnings per share of $0.98.
This document is Toll Brothers Inc.'s quarterly report filed with the SEC for the quarter ended July 31, 2001. It summarizes Toll Brothers' financial position, including an increase in total assets to $2.4 billion from $2 billion the prior year. Revenues increased to $1.5 billion from $1.2 billion the prior year. Net income increased to $145 million from $88 million the prior year. The report provides condensed financial statements, notes to the financial statements, and management's discussion of financial results.
This document is Toll Brothers' Form 10-Q quarterly report filed with the SEC for the quarter ended April 30, 2003. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement, as well as notes to the financial statements. The financial statements show that for the quarter ended April 30, 2003, Toll Brothers had revenues of $607.9 million, net income of $52.9 million, and basic earnings per share of $0.76. Cash and cash equivalents increased to $211.3 million from $102.3 million at the end of the previous fiscal year.
This document is a Form 10-Q quarterly report filed by Toll Brothers, Inc. with the SEC for the quarter ended January 31, 2003. It includes:
1) Condensed consolidated balance sheets comparing assets/liabilities as of January 31, 2003 and October 31, 2002, showing increased cash/inventory and decreased debt.
2) Condensed consolidated statements of income for the quarters ended January 31, 2003 and 2002, though no financial figures are provided.
3) Notes to the condensed consolidated financial statements and standard sections including management's discussion of financial results, market risk, controls and procedures, and certifications. The document provides required regulatory financial disclosures for Toll Brothers' first fiscal
This document is Sunoco Inc.'s quarterly report filed with the SEC for the quarter ending March 31, 2005. It includes condensed consolidated financial statements and notes. The financial statements show that for the quarter, Sunoco had total revenues of $7.2 billion, net income of $116 million, and basic earnings per share of $1.68. Total assets as of March 31, 2005 were $8.7 billion. The notes provide additional details on minority interests in cokemaking and logistics operations, as well as contingencies related to these operations.
- The document is International Paper Company's Form 10-Q filing for the quarterly period ended September 30, 2002.
- It includes International Paper's consolidated financial statements including statements of earnings, balance sheets, cash flows, and shareholders' equity for the periods ended September 30, 2002 and 2001.
- It also includes management's discussion and analysis of financial condition and results of operations, quantitative and qualitative market risk disclosures, and controls and procedures.
This document is Sunoco Inc.'s quarterly report filed with the SEC for the second quarter of 2005. It includes condensed financial statements and notes. The financial statements show that for the quarter, Sunoco reported revenues of $7.99 billion, net income of $242 million, and earnings per share of $1.77. Notes include details on Sunoco's cokemaking operations, in which it has sold minority interests to third parties and has preferential return agreements in place.
This document is International Paper Company's Form 10-Q quarterly report filed with the SEC for the quarter ended June 30, 2001. It includes International Paper's consolidated financial statements and notes for the quarter. The financial statements show a net loss of $313 million for the quarter compared to net earnings of $270 million in the prior year period. Revenues decreased slightly to $6.7 billion for the quarter from $6.8 billion in the prior year. Costs and expenses increased to $6.9 billion from $6.1 billion due primarily to restructuring and impairment charges.
- The document is International Paper Company's Form 10-Q quarterly report filed with the SEC for the quarter ended June 30, 2002.
- It includes financial statements such as statements of earnings, balance sheets, and cash flows for the periods ended June 30, 2002 and 2001.
- It also includes management's discussion and analysis of financial condition and results of operations, quantitative and qualitative disclosures about market risk, legal proceedings, and other required disclosures.
This document is a Form 10-Q quarterly report filed by KB Home with the SEC for the quarter ending May 31, 2004. The summary includes:
1) KB Home reported total revenues of $2.9 billion for the six months ended May 31, 2004, with construction pretax income of $258.7 million and mortgage banking pretax income of $4.5 million.
2) The balance sheet shows KB Home's assets including $65.6 million in cash, $429.2 million in receivables, and $3.55 billion in construction inventories as of May 31, 2004.
3) The document provides KB Home's financial statements and notes for the quarter,
This document is Toll Brothers, Inc.'s quarterly report filed with the SEC for the quarter ended January 31, 2004 on Form 10-Q. It includes Toll Brothers' condensed consolidated financial statements, management's discussion and analysis of financial condition and results of operations, and certifications regarding disclosure controls and procedures. The financial statements show that for the quarter ended January 31, 2004, Toll Brothers had revenues of $597.9 million, net income of $50.1 million, and earnings per share of $0.68 on a basic basis and $0.62 on a diluted basis. Inventory increased to $3.27 billion from $3.08 billion at the end of the prior fiscal year.
This document is PACCAR Inc's quarterly report (Form 10-Q) for the period ending June 30, 2004 filed with the SEC. It includes:
1) Financial statements such as the consolidated balance sheet, income statement, and cash flow statement for the quarter.
2) Notes to the financial statements providing additional information and disclosure.
3) Certification by management of the accuracy of the financial statements and internal controls.
The summary highlights that this is PACCAR's regulatory filing, includes their quarterly financial statements, and notes to those statements as required by the SEC. It covers the essential information in 3 sentences as requested.
This document is the quarterly report on Form 10-Q filed by A.M. Castle & Co. for the quarter ending March 31, 2009. It includes condensed consolidated financial statements and notes. The financial statements show that net sales were $252 million for the quarter, with net income of $480 thousand. Cash flow from operations was $4.7 million for the quarter. The report provides the company's condensed financial position, results of operations, and cash flows for the quarter, as well as notes regarding new accounting standards adopted and the company's acquisition of Metals U.K. Group in January 2008.
- The document is Toll Brothers' annual report (Form 10-K) filed with the SEC, providing information on their business operations, communities, homes, and financial performance.
- Toll Brothers designs, builds, and sells luxury single-family homes across 21 states, targeting move-up, empty-nester, and active-adult home buyers.
- As of October 2003, they operated in 313 communities with over 25,000 home sites and had a backlog of $2.64 billion in future home sales.
This document is United Stationers' 2002 annual report. It summarizes that United Stationers faces challenges including a tough operating environment, declining margins as computer consumables make up a larger portion of sales, and slowing sales due to the economy. However, the company has strengths like high customer service ratings, cash flow, and infrastructure. The report outlines United Stationers' plan to address these challenges by becoming more marketing-driven, customer-focused, and cost-efficient while driving non-value-added costs out of its operations and the supply chain. It also explains why the company fell short of its 2002 financial goals due to factors like unemployment, a loss of sales from a national account, and lower manufacturer rebates.
The annual report summarizes Perini Corporation's financial performance and operations in 2004. Some key points:
- Revenues increased 34% to $1.84 billion, with strong growth in building and management services revenues. Income from construction operations rose 65% to $50.3 million.
- Perini was named one of Forbes' Best Managed Companies in America and ranked #1 in the construction sector. It also acquired Cherry Hill Construction to expand its civil construction business.
- Perini's management services division continued work on critical overseas projects in Iraq and Afghanistan, including completing the first new power plant in Iraq since 1976.
- Looking ahead, Perini expects continued growth from its core building
The document is United Stationers' 2004 annual report. It summarizes the company's strategic plan to build on its foundation as North America's largest wholesale distributor of business products. The plan focuses on seven key strategies: 1) creating a high-performance organization, 2) accelerating growth through new category and channel initiatives, 3) driving cost and value leadership, 4) expanding operational excellence, 5) making United easy to do business with, 6) strengthening integrated supplier partnerships, and 7) enhancing its technology advantage. The company believes executing this plan will help it meet financial goals of sales growth above industry averages and 12-15% annual EPS growth.
This document is Toll Brothers' annual report filed with the SEC on Form 10-K. It summarizes Toll Brothers' business operations, including that it designs and builds single family homes across 21 states, with over 21,000 home sites owned or under control at the end of fiscal year 2001. It had a backlog of over $1.4 billion at the end of fiscal 2001. The report provides an overview of Toll Brothers' communities, home prices, awards received, and financial information.
This annual report summarizes MGM MIRAGE CityCenter's projects in Las Vegas in 2007. It includes details on six construction projects that were part of CityCenter: ARIA Resort-Casino, Vdara Condo Hotel, Veer Towers, The Harmon Hotel, Spa & Residences, Mandarin Oriental Las Vegas, and The Crystals. It also provides financial highlights for MGM MIRAGE and notes that CityCenter is the largest privately financed project in the United States at 76 acres and 18 million square feet.
FMC Technologies had a successful year in 2004 with revenue increasing 20% and earnings per share up 63%. The company's energy businesses performed well by capitalizing on growth in oil and gas activity, with the subsea systems business increasing sales to over $1 billion. However, some challenges included losses on an offshore contract in Algeria and lower sales and profits in the food processing equipment business due to hurricanes damaging the Florida citrus crop. Overall the company increased its order backlog 26% while reducing debt, positioning it well for continued growth.
- The document is a Form 10-Q quarterly report filed with the SEC by Toll Brothers, Inc. for the quarterly period ended January 31, 2003.
- It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement for the periods ended January 31, 2003 and January 31, 2002.
- It also includes notes to the financial statements and disclosures on inventory, accounting policies, earnings per share, stock splits, and forward-looking statements.
United has expanded through acquisitions, growing its product offering and distribution network. It serves over 20,000 reseller customers through a broad inventory of over 35,000 items and a network of distribution centers. United aims to be an indispensable partner for resellers and manufacturers by providing fulfillment excellence through high order fill rates, on-time delivery, and same-day shipping to nearly every US location.
This document is Toll Brothers' quarterly report filed with the SEC for the quarter ended April 30, 2002. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. It also provides notes to the financial statements and discusses forward-looking statements and risk factors that may affect future results.
The Audit Committee Charter establishes the purpose, composition, duties, and responsibilities of the Perini Corporation Audit Committee. The Audit Committee is appointed by the Board of Directors to oversee the integrity of internal controls, financial reporting, and compliance with legal and regulatory requirements. It is also responsible for oversight of both internal and external auditors. The Charter outlines 25 specific duties of the Committee, including reviewing quarterly and annual financial reports, evaluating auditor independence, overseeing internal audits, and reporting regularly to the full Board of Directors.
This document is a Form 10-Q quarterly report filed by Toll Brothers, Inc. with the SEC for the quarter ended January 31, 2003. It includes:
1) Condensed consolidated balance sheets comparing assets/liabilities as of January 31, 2003 and October 31, 2002, showing increased cash/inventory and decreased debt.
2) Condensed consolidated statements of income for the quarters ended January 31, 2003 and 2002, though no financial figures are provided.
3) Notes to the condensed consolidated financial statements and standard sections including management's discussion of financial results, market risk, controls and procedures, and certifications. The document provides required regulatory financial disclosures for Toll Brothers' first fiscal
This document is Sunoco Inc.'s quarterly report filed with the SEC for the quarter ending March 31, 2005. It includes condensed consolidated financial statements and notes. The financial statements show that for the quarter, Sunoco had total revenues of $7.2 billion, net income of $116 million, and basic earnings per share of $1.68. Total assets as of March 31, 2005 were $8.7 billion. The notes provide additional details on minority interests in cokemaking and logistics operations, as well as contingencies related to these operations.
- The document is International Paper Company's Form 10-Q filing for the quarterly period ended September 30, 2002.
- It includes International Paper's consolidated financial statements including statements of earnings, balance sheets, cash flows, and shareholders' equity for the periods ended September 30, 2002 and 2001.
- It also includes management's discussion and analysis of financial condition and results of operations, quantitative and qualitative market risk disclosures, and controls and procedures.
This document is Sunoco Inc.'s quarterly report filed with the SEC for the second quarter of 2005. It includes condensed financial statements and notes. The financial statements show that for the quarter, Sunoco reported revenues of $7.99 billion, net income of $242 million, and earnings per share of $1.77. Notes include details on Sunoco's cokemaking operations, in which it has sold minority interests to third parties and has preferential return agreements in place.
This document is International Paper Company's Form 10-Q quarterly report filed with the SEC for the quarter ended June 30, 2001. It includes International Paper's consolidated financial statements and notes for the quarter. The financial statements show a net loss of $313 million for the quarter compared to net earnings of $270 million in the prior year period. Revenues decreased slightly to $6.7 billion for the quarter from $6.8 billion in the prior year. Costs and expenses increased to $6.9 billion from $6.1 billion due primarily to restructuring and impairment charges.
- The document is International Paper Company's Form 10-Q quarterly report filed with the SEC for the quarter ended June 30, 2002.
- It includes financial statements such as statements of earnings, balance sheets, and cash flows for the periods ended June 30, 2002 and 2001.
- It also includes management's discussion and analysis of financial condition and results of operations, quantitative and qualitative disclosures about market risk, legal proceedings, and other required disclosures.
This document is a Form 10-Q quarterly report filed by KB Home with the SEC for the quarter ending May 31, 2004. The summary includes:
1) KB Home reported total revenues of $2.9 billion for the six months ended May 31, 2004, with construction pretax income of $258.7 million and mortgage banking pretax income of $4.5 million.
2) The balance sheet shows KB Home's assets including $65.6 million in cash, $429.2 million in receivables, and $3.55 billion in construction inventories as of May 31, 2004.
3) The document provides KB Home's financial statements and notes for the quarter,
This document is Toll Brothers, Inc.'s quarterly report filed with the SEC for the quarter ended January 31, 2004 on Form 10-Q. It includes Toll Brothers' condensed consolidated financial statements, management's discussion and analysis of financial condition and results of operations, and certifications regarding disclosure controls and procedures. The financial statements show that for the quarter ended January 31, 2004, Toll Brothers had revenues of $597.9 million, net income of $50.1 million, and earnings per share of $0.68 on a basic basis and $0.62 on a diluted basis. Inventory increased to $3.27 billion from $3.08 billion at the end of the prior fiscal year.
This document is PACCAR Inc's quarterly report (Form 10-Q) for the period ending June 30, 2004 filed with the SEC. It includes:
1) Financial statements such as the consolidated balance sheet, income statement, and cash flow statement for the quarter.
2) Notes to the financial statements providing additional information and disclosure.
3) Certification by management of the accuracy of the financial statements and internal controls.
The summary highlights that this is PACCAR's regulatory filing, includes their quarterly financial statements, and notes to those statements as required by the SEC. It covers the essential information in 3 sentences as requested.
This document is the quarterly report on Form 10-Q filed by A.M. Castle & Co. for the quarter ending March 31, 2009. It includes condensed consolidated financial statements and notes. The financial statements show that net sales were $252 million for the quarter, with net income of $480 thousand. Cash flow from operations was $4.7 million for the quarter. The report provides the company's condensed financial position, results of operations, and cash flows for the quarter, as well as notes regarding new accounting standards adopted and the company's acquisition of Metals U.K. Group in January 2008.
- The document is Toll Brothers' annual report (Form 10-K) filed with the SEC, providing information on their business operations, communities, homes, and financial performance.
- Toll Brothers designs, builds, and sells luxury single-family homes across 21 states, targeting move-up, empty-nester, and active-adult home buyers.
- As of October 2003, they operated in 313 communities with over 25,000 home sites and had a backlog of $2.64 billion in future home sales.
This document is United Stationers' 2002 annual report. It summarizes that United Stationers faces challenges including a tough operating environment, declining margins as computer consumables make up a larger portion of sales, and slowing sales due to the economy. However, the company has strengths like high customer service ratings, cash flow, and infrastructure. The report outlines United Stationers' plan to address these challenges by becoming more marketing-driven, customer-focused, and cost-efficient while driving non-value-added costs out of its operations and the supply chain. It also explains why the company fell short of its 2002 financial goals due to factors like unemployment, a loss of sales from a national account, and lower manufacturer rebates.
The annual report summarizes Perini Corporation's financial performance and operations in 2004. Some key points:
- Revenues increased 34% to $1.84 billion, with strong growth in building and management services revenues. Income from construction operations rose 65% to $50.3 million.
- Perini was named one of Forbes' Best Managed Companies in America and ranked #1 in the construction sector. It also acquired Cherry Hill Construction to expand its civil construction business.
- Perini's management services division continued work on critical overseas projects in Iraq and Afghanistan, including completing the first new power plant in Iraq since 1976.
- Looking ahead, Perini expects continued growth from its core building
The document is United Stationers' 2004 annual report. It summarizes the company's strategic plan to build on its foundation as North America's largest wholesale distributor of business products. The plan focuses on seven key strategies: 1) creating a high-performance organization, 2) accelerating growth through new category and channel initiatives, 3) driving cost and value leadership, 4) expanding operational excellence, 5) making United easy to do business with, 6) strengthening integrated supplier partnerships, and 7) enhancing its technology advantage. The company believes executing this plan will help it meet financial goals of sales growth above industry averages and 12-15% annual EPS growth.
This document is Toll Brothers' annual report filed with the SEC on Form 10-K. It summarizes Toll Brothers' business operations, including that it designs and builds single family homes across 21 states, with over 21,000 home sites owned or under control at the end of fiscal year 2001. It had a backlog of over $1.4 billion at the end of fiscal 2001. The report provides an overview of Toll Brothers' communities, home prices, awards received, and financial information.
This annual report summarizes MGM MIRAGE CityCenter's projects in Las Vegas in 2007. It includes details on six construction projects that were part of CityCenter: ARIA Resort-Casino, Vdara Condo Hotel, Veer Towers, The Harmon Hotel, Spa & Residences, Mandarin Oriental Las Vegas, and The Crystals. It also provides financial highlights for MGM MIRAGE and notes that CityCenter is the largest privately financed project in the United States at 76 acres and 18 million square feet.
FMC Technologies had a successful year in 2004 with revenue increasing 20% and earnings per share up 63%. The company's energy businesses performed well by capitalizing on growth in oil and gas activity, with the subsea systems business increasing sales to over $1 billion. However, some challenges included losses on an offshore contract in Algeria and lower sales and profits in the food processing equipment business due to hurricanes damaging the Florida citrus crop. Overall the company increased its order backlog 26% while reducing debt, positioning it well for continued growth.
- The document is a Form 10-Q quarterly report filed with the SEC by Toll Brothers, Inc. for the quarterly period ended January 31, 2003.
- It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement for the periods ended January 31, 2003 and January 31, 2002.
- It also includes notes to the financial statements and disclosures on inventory, accounting policies, earnings per share, stock splits, and forward-looking statements.
United has expanded through acquisitions, growing its product offering and distribution network. It serves over 20,000 reseller customers through a broad inventory of over 35,000 items and a network of distribution centers. United aims to be an indispensable partner for resellers and manufacturers by providing fulfillment excellence through high order fill rates, on-time delivery, and same-day shipping to nearly every US location.
This document is Toll Brothers' quarterly report filed with the SEC for the quarter ended April 30, 2002. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. It also provides notes to the financial statements and discusses forward-looking statements and risk factors that may affect future results.
The Audit Committee Charter establishes the purpose, composition, duties, and responsibilities of the Perini Corporation Audit Committee. The Audit Committee is appointed by the Board of Directors to oversee the integrity of internal controls, financial reporting, and compliance with legal and regulatory requirements. It is also responsible for oversight of both internal and external auditors. The Charter outlines 25 specific duties of the Committee, including reviewing quarterly and annual financial reports, evaluating auditor independence, overseeing internal audits, and reporting regularly to the full Board of Directors.
- The document is Toll Brothers' annual report (Form 10-K) filed with the SEC, providing information on their business operations, communities, homes, and financial performance.
- Toll Brothers designs, builds, and sells luxury single-family homes across 21 states, targeting move-up, empty-nester, and active-adult home buyers.
- As of October 2003, they operated in 313 communities with over 25,000 home sites and had a backlog of $2.64 billion in future home sales.
In 2005, Perini Corporation significantly increased its construction backlog to a record $7.9 billion, nearly half of which was attributable to the MGM MIRAGE's CityCenter project in Las Vegas. This increase was also due in part to acquisitions of Rudolph and Sletten and Cherry Hill Construction. Perini's diversified portfolio demonstrated the experience and versatility of its employees and project management teams.
United Stationers is focusing on six value drivers to achieve long-term financial goals: 1) Delivering profitable sales growth by leveraging product initiatives and serving new channels like e-tailers. 2) Driving out $100 million in costs over 5 years through waste elimination initiatives. 3) Expanding their private brand offerings which now generate 11% of sales. 4) Optimizing assets by improving working capital efficiency and leveraging IT infrastructure investments. 5) Unlocking value from their Sweet Paper acquisition by expanding product offerings and removing costs. 6) Using technology to enhance marketing capabilities and customer relationships.
- The document announces the 2009 Annual Meeting of Stockholders of Toll Brothers, Inc. to be held on March 11, 2009 at the company's offices.
- Stockholders will vote on four items of business: electing four directors, ratifying the appointment of the independent auditors, and two stockholder proposals.
- The record date for determining stockholders eligible to vote is January 16, 2009. Only stockholders of record on that date may vote at the meeting.
Toll Brothers, Inc. filed its annual report on Form 10-K with the SEC for the fiscal year ended October 31, 2007. The filing provides information on Toll Brothers' business operations, financial performance, risk factors, and audited financial statements. Specifically, the filing discloses that Toll Brothers designs, builds, and finances luxury single and attached homes across 22 states in the United States. It operates 368 communities containing over 27,000 home sites. Toll Brothers experienced a slowdown in demand beginning in late 2005 due to housing market conditions. The filing provides details on Toll Brothers' revenues, backlog, home prices, geographic presence, and business strategy to manage risks.
The interim report summarizes the company's financial performance in the first half of 2008. Key points include record profitability with an operating margin of 16.6% and net margin of 12.1%. Vehicle and service sales grew 15% and 30% respectively. Earnings per share increased 36% to SEK 12.52. The outlook predicts earnings in 2008 will be higher than 2007 due to continued strong demand outside of Europe.
The interim report summarizes the company's performance in the first three quarters of 2008. Key highlights include operating margins reaching an all-time high of 15.8% and EBIT growth of 25%. Vehicle deliveries increased 4% while service revenue grew due to the large installed base of vehicles. The outlook acknowledges earnings will be higher in 2008 than 2007 but provides no forecast for 2009 due to uncertainty.
The document is Toll Brothers Inc.'s quarterly report filed with the SEC for the period ended January 31, 2001. It includes condensed consolidated financial statements and notes. The financial statements show that for the quarter ended January 31, 2001, Toll Brothers' housing sales revenues increased to $458.4 million compared to $334.2 million for the same period the previous year. Toll Brothers' net income for the quarter increased to $39.9 million compared to $22.4 million for the same quarter the previous year. The cash flow statement shows that Toll Brothers issued $200 million in senior subordinated notes in January 2001 to fund general corporate purposes including land acquisitions.
This document is Toll Brothers Inc.'s Form 10-Q filing for the quarterly period ended July 31, 2000. It provides condensed financial statements and notes for the periods ended July 31, 2000 and 1999 including the balance sheet, income statement, and cash flow statement. Key details include revenues of $1.2 billion for the nine months ended July 31, 2000 compared to $1 billion for the same period in 1999. Net income was $87.6 million for the nine months of 2000 compared to $68.1 million in 1999.
This document is Toll Brothers Inc.'s quarterly report filed with the SEC for the quarter ended July 31, 2001. It summarizes Toll Brothers' financial position, including an increase in total assets to $2.4 billion from $2 billion the prior year. It also reports the company's operating results for the quarter, with housing revenues of $573 million and net income of $59 million. Finally, it provides additional details on Toll Brothers' inventory, subordinated notes issued, stock repurchase program, and cash flows for the period.
This document is Toll Brothers' quarterly report filed with the SEC, reporting financial results for the quarter ended January 31, 2002. It includes condensed consolidated balance sheets, statements of income, and cash flows. Revenues increased from the prior year due to higher housing sales, while costs and expenses also rose. Net income increased from the previous year's quarter, with earnings per share of $44.5 million compared to $39.9 million a year earlier.
This document is Toll Brothers' quarterly report filed with the SEC for the quarter ended July 31, 2003. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. It also provides notes to the financial statements and discusses items such as revenues, costs, assets, liabilities, earnings per share, and cash flows. In summary, it presents Toll Brothers' financial performance and position for the quarter and provides important disclosures regarding its business and accounting.
This document is Toll Brothers' Form 10-Q/A filed with the SEC, which provides quarterly financial results and other information. It summarizes that for the quarter ended July 31, 2002, Toll Brothers reported housing and land sales revenues of $577.8 million, net income of $53.5 million, and basic earnings per share of $0.76. It also discloses total assets of $2.77 billion and total liabilities of $1.71 billion as of the end of the reported quarter.
This document is International Paper Company's Form 10-Q quarterly report filed with the SEC for the quarter ended March 31, 2001. It includes:
1) Financial statements including the consolidated statement of earnings, balance sheet, cash flows, and shareholders' equity for the quarter. Revenues were $6.9 billion and net loss was $44 million.
2) Notes to the financial statements providing additional details on earnings per share calculations, recent mergers and acquisitions, and basis of presentation of the interim financial statements.
3) Management's discussion and analysis of financial condition and results of operations including details of business segment performance.
4) Certification that all required SEC filings have been made
The document is International Paper Company's Form 10-Q quarterly report filed with the SEC for the quarter ended June 30, 2003. It includes:
1) Financial statements including the consolidated statement of earnings, balance sheet, cash flows, and shareholders' equity for the quarter and year to date.
2) Notes to the financial statements providing additional information on items such as basis of presentation and earnings per share calculations.
3) Certification by management on disclosure controls and procedures.
In summary, it presents International Paper's required quarterly financial reporting to the SEC on their financial position and operating results for the period.
This document is Sunoco Inc.'s quarterly report filed with the SEC for the third quarter of 2005. It provides financial statements and notes for the periods ended September 30, 2005 and 2004. Specifically, it includes condensed consolidated statements of income, balance sheets, cash flows, and notes on general information, minority interests in cokemaking operations, and new energy tax credits impacting those operations.
This document is Danaher Corporation's Form 10-Q filing for the quarter ended September 30, 2005. It provides financial statements and disclosures including the consolidated balance sheet, statement of earnings, statement of cash flows, and notes to the financial statements. The notes describe Danaher's acquisitions and divestitures during the nine months ended September 30, 2005, including 10 business acquisitions and the ongoing evaluation of assumptions for its largest acquisition, Leica Microsystems AG. The filing also indicates that Danaher's total comprehensive income for the periods presented represents net earnings plus the change in cumulative foreign translation adjustment.
This document is Toll Brothers' quarterly report filed with the SEC for the period ending January 31, 2005. It includes condensed consolidated financial statements and notes. The financial statements show that for the quarter, Toll Brothers had revenues of $999 million, net income of $110 million, and earnings per share of $1.33. Cash and cash equivalents decreased by $125 million during the quarter to $341 million.
This document is Toll Brothers' quarterly report filed with the SEC for the quarter ending January 31, 2005. It includes condensed consolidated financial statements and notes. The financial statements show that for the quarter, Toll Brothers had revenues of $999 million, net income of $110 million, and earnings per share of $1.33. Cash flows were negative for the quarter due to increased inventory purchases exceeding cash generated from home sales.
This document is Danaher Corporation's Form 10-Q quarterly report filed with the SEC for the quarter ended June 30, 2006. It includes Danaher's consolidated condensed financial statements, including the balance sheet, income statement, statement of cash flows, and notes to the financial statements. Of note, Danaher reported net earnings of $314.5 million for the quarter and $530.2 million for the six months ended June 30, 2006. Total assets increased to $11.9 billion as of June 30, 2006 from $9.2 billion as of December 31, 2005, primarily due to acquisitions completed during the first six months of 2006.
This document is Toll Brothers' quarterly report filed with the SEC for the period ended July 31, 2004. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. It also provides notes to the financial statements and disclosures on forward-looking statements, accounting policies, and subsequent events. The financial statements show that for the nine months ended July 31, 2004, Toll Brothers increased its revenues over the same period the prior year and reported net income of $228.5 million.
This document is Toll Brothers' quarterly report filed with the SEC for the period ended July 31, 2004. It includes condensed consolidated financial statements such as the balance sheet, income statement, and cash flow statement. It also provides notes to the financial statements and disclosures on forward-looking statements, accounting policies, and subsequent events. The financial statements show that for the nine months ended July 31, 2004, Toll Brothers increased its revenues over the same period the prior year and reported net income of $228.5 million.
family dollar stores First Quarter 10Q 2006finance33
This document is Family Dollar Stores' quarterly report filed with the SEC for the quarter ended November 26, 2005. It provides the company's consolidated condensed balance sheets, statements of income, and statements of cash flows for the quarters ended November 26, 2005 and November 27, 2004. It also includes notes to the financial statements and sections on management's discussion of financial conditions, quantitative and qualitative market risk disclosures, and controls and procedures.
This document is Danaher Corporation's quarterly report filed with the SEC for the second quarter of 2005. It includes Danaher's consolidated condensed balance sheets, statements of earnings, and statements of cash flows for the periods ended July 1, 2005 and July 2, 2004. Some key details include that Danaher's sales increased over the comparable prior year period to $1.9 billion for the quarter and $3.8 billion for the six months. Net earnings increased by $47 million for the quarter and $90 million for the six months compared to 2004.
This document is International Paper Company's Form 10-Q quarterly report filed with the SEC for the quarter ended March 31, 2002. It includes International Paper's consolidated financial statements for the quarter, including statements of earnings, balance sheets, cash flows, and shareholders' equity. It also includes management's discussion and analysis of the financial results, quantitative and qualitative disclosures about market risk, legal proceedings information, and certifications.
1) Taubman Centers, Inc. filed its quarterly report with the SEC for the period ended March 31, 2009.
2) For the quarter, the company reported net income of $24.5 million, compared to $23.5 million in the prior year.
3) Cash flows from operating activities were $45.1 million for the quarter, and the company reported cash and cash equivalents of $41.7 million as of March 31, 2009.
fidelity national information 1st Quarter 2006 10Qfinance48
- The document is a Form 10-Q quarterly report filed with the SEC by Fidelity National Information Services for the quarter ended March 31, 2006.
- It provides consolidated financial statements and management discussion/analysis of the company's financial condition and operating results for the quarter.
- Key details include total revenues of $901 million for the quarter, net earnings of $39 million, and total assets of $7.4 billion as of March 31, 2006.
1) Scania reported record earnings in the first half of 2008, with operating margin reaching 16.6% and net margin at 12.1%.
2) Scania is pursuing profitable growth through increasing vehicle and service sales. Revenue grew 15% while EBIT grew 30% in the first half of 2008.
3) Scania's vision is to reach annual production of 150,000 vehicles while maintaining a flexible cost structure and focus on customer productivity and uptime.
The interim report summarizes the company's performance in the first three quarters of 2008. Key highlights include operating margins reaching an all-time high of 15.8% and EBIT growth of 25%. Revenue and profitability increased due to higher vehicle and service volumes, price increases, and favorable product mix. However, order bookings for trucks have declined 51% in Western Europe and 34% in Central and Eastern Europe. While flexible production has helped, earnings forecasts for 2009 are not provided due to economic uncertainty. The service business continues growing with increased traffic and workshop utilization.
HQ Bank has experienced volume driven growth in its credit portfolio over the past 9 months of 2008. While the portfolio increased 8% in local currencies, bad debt provisions increased in several markets. The bank has a well balanced portfolio that is diversified across exposure levels, geographic areas, and products. It maintains a conservative refinancing policy and manages risks through matched funding and credit risk management.
1) Scania reported all-time high earnings in 2008 with operating income of SEK 12,512 million. However, deliveries declined 18% in Q4 as the company adjusted production rates due to decreased demand in Europe.
2) While the trucks and services segment grew profits through price increases, this was partially offset by negative impacts from lower deliveries, used vehicles, raw materials, and R&D spending.
3) Scania's flexible production system and focus on reducing inventory and postponing investments helped cash flow, but tied up capital increased with capacity investments. Outlook remains uncertain given rapid demand fall in Q4 2008 and high industry inventory levels.
- Scania's operating margin and net margin increased in the first nine months of 2008 compared to the same period in 2007. Net sales rose 11% while order bookings declined 29% due to lower demand in Europe.
- Earnings per share increased and the forecast for higher full-year 2008 earnings remains unchanged. However, due to lower order bookings and higher inventories, Scania will adjust production rates.
- Service revenue continued to show strong growth of 8%, while trucks deliveries increased 4% and various restructuring efforts are expected to generate annual cost savings of SEK 300 million from 2009.
1) Scania reported all-time high earnings in 2008 with operating income of SEK 12,512 million. However, deliveries declined 18% in Q4 as the company adjusted production rates due to decreased demand in Europe.
2) While the trucks and services segment grew profits through price increases, this was partially offset by negative impacts from lower deliveries, used vehicles, raw materials, and R&D spending.
3) Scania's flexible production system and focus on reducing inventory and postponing investments helped cash flow, but tied up capital increased with capacity investments. Outlook for 2009 is uncertain due to rapid demand fall in Q4 and high industry inventory levels.
This document is Scania's annual report for 2008. It discusses Scania's vision to be a leading company in its industry by creating value for customers, employees, shareholders, and society. The report outlines Scania's mission to supply high-quality vehicles and services for transporting goods and passengers in a sustainable way. It provides an overview of Scania's operations in trucks, buses, coaches, engines, and financial services. The financial reports indicate that Scania delivered 66,516 trucks, 7,277 buses and coaches, and 6,671 engines in 2008.
Our Chief Executive Officer is required to annually certify to the New York Stock Exchange that the company is in compliance with NYSE corporate governance listing standards or note any violations. On June 6, 2007, our Chief Executive Officer submitted this unqualified certification, indicating the company was in full compliance with NYSE standards as of that date.
Our Chief Executive Officer is required to annually certify to the New York Stock Exchange that the company is in compliance with NYSE corporate governance listing standards, though he may qualify the certification if needed. On June 6, 2007, our Chief Executive Officer submitted the certification with no qualification, indicating full compliance with NYSE standards as of that date.
The document outlines the corporate governance guidelines of Perini Corporation. It discusses (1) the composition and responsibilities of the Board of Directors, including director qualifications and independence, (2) the roles and responsibilities of Board committees, and (3) policies regarding Board performance evaluation, director orientation, management succession planning, and the company's code of business conduct. The guidelines are intended to assist the Board in exercising its duties to stakeholders.
The document outlines the corporate governance guidelines of Perini Corporation. It discusses (1) the composition and responsibilities of the Board of Directors, including director qualifications and independence, (2) the roles and responsibilities of Board committees, and (3) policies regarding Board performance evaluation, director orientation, management succession planning, and the company's code of business conduct. The guidelines are intended to assist the Board in exercising its duties to stakeholders.
The Perini Corporation Code of Business Conduct and Ethics outlines guidelines for ethical behavior. It applies to all directors, officers, and employees. The code establishes rules regarding conflicts of interest, procurement ethics, accounting practices, use of company property, environmental compliance, and insider trading. Any violations of the code are taken seriously and can result in disciplinary action up to dismissal.
The Perini Corporation Code of Business Conduct and Ethics outlines guidelines for ethical behavior. It applies to all directors, officers, and employees. The code establishes rules regarding conflicts of interest, procurement ethics, accounting practices, use of company property, environmental compliance, and insider trading. Any violations of the code are taken seriously and can result in disciplinary action up to dismissal.
The document outlines the Corporate Governance and Nominating Committee Charter for Perini Corporation. The purpose of the committee is to identify and evaluate potential board candidates and lead corporate governance efforts. The committee must consist of at least two independent directors appointed by the board. It has authority to retain outside advisors and meet at least twice per year. Regarding nominations, the committee evaluates candidates, recommends nominees, and assesses board independence. For corporate governance, the committee develops guidelines, reviews committee performance, and recommends criteria for director tenure.
The document is the Compensation Committee Charter for Perini Corporation. It outlines the committee's purpose of ensuring compensation programs attract and retain employees while representing fair value for shareholders. It details the committee's composition, duties, and responsibilities which include annually reviewing executive compensation programs, recommending director and CEO compensation, overseeing incentive plans, and preparing required compensation disclosures.
The document is the Compensation Committee Charter for Perini Corporation. It outlines the committee's purpose of ensuring compensation programs attract and retain employees while representing fair value for shareholders. It details the committee's composition, duties, and responsibilities which include annually reviewing executive compensation programs, recommending director and CEO compensation, overseeing incentive plans, and preparing required compensation disclosures.
The Audit Committee Charter establishes the purpose, composition, duties, and responsibilities of the Perini Corporation Audit Committee. The Audit Committee is appointed by the Board of Directors to oversee the integrity of internal controls, financial reporting, and compliance with legal and regulatory requirements. It is also responsible for oversight of both internal and external auditors. The Charter outlines 25 specific duties of the Committee, including reviewing quarterly and annual financial reports, evaluating auditor independence, overseeing internal audits, and reporting regularly to the full Board of Directors.
Madhya Pradesh, the "Heart of India," boasts a rich tapestry of culture and heritage, from ancient dynasties to modern developments. Explore its land records, historical landmarks, and vibrant traditions. From agricultural expanses to urban growth, Madhya Pradesh offers a unique blend of the ancient and modern.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
Monthly Market Risk Update: June 2024 [SlideShare]Commonwealth
Markets rallied in May, with all three major U.S. equity indices up for the month, said Sam Millette, director of fixed income, in his latest Market Risk Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
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.
How to Identify the Best Crypto to Buy Now in 2024.pdfKezex (KZX)
To identify the best crypto to buy in 2024, analyze market trends, assess the project's fundamentals, review the development team and community, monitor adoption rates, and evaluate risk tolerance. Stay updated with news, regulatory changes, and expert opinions to make informed decisions.
South Dakota State University degree offer diploma Transcriptynfqplhm
办理美国SDSU毕业证书制作南达科他州立大学假文凭定制Q微168899991做SDSU留信网教留服认证海牙认证改SDSU成绩单GPA做SDSU假学位证假文凭高仿毕业证GRE代考如何申请南达科他州立大学South Dakota State University degree offer diploma Transcript
University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
Discovering Delhi - India's Cultural Capital.pptxcosmo-soil
Delhi, the heartbeat of India, offers a rich blend of history, culture, and modernity. From iconic landmarks like the Red Fort to bustling commercial hubs and vibrant culinary scenes, Delhi's real estate landscape is dynamic and diverse. Discover the essence of India's capital, where tradition meets innovation.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Every business, big or small, deals with outgoing payments. Whether it’s to suppliers for inventory, to employees for salaries, or to vendors for services rendered, keeping track of these expenses is crucial. This is where payment vouchers come in – the unsung heroes of the accounting world.
How Poonawalla Fincorp and IndusInd Bank’s Co-Branded RuPay Credit Card Cater...beulahfernandes8
The eLITE RuPay Platinum Credit Card, a strategic collaboration between Poonawalla Fincorp and IndusInd Bank, represents a significant advancement in India's digital financial landscape. Spearheaded by Abhay Bhutada, MD of Poonawalla Fincorp, the card leverages deep customer insights to offer tailored features such as no joining fees, movie ticket offers, and rewards on UPI transactions. IndusInd Bank's solid banking infrastructure and digital integration expertise ensure seamless service delivery in today's fast-paced digital economy. With a focus on meeting the growing demand for digital financial services, the card aims to cater to tech-savvy consumers and differentiate itself through unique features and superior customer service, ultimately poised to make a substantial impact in India's digital financial services space.
The various stages, after the initial invitation has been made to the public ...
tollbrothers 10-Q_apr_2001
1. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
(Mark One)
X QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED April 30, 2001
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO
Commission file number 1-9186
TOLL BROTHERS, INC.
(Exact name of registrant as specified in its charter)
Delaware 23-2416878
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
3103 Philmont Avenue, Huntingdon Valley, Pennsylvania 19006
(Address of principal executive offices) (Zip Code)
(215) 938-8000
(Registrant's telephone number, including area code)
Not applicable
(Former name, former address and former fiscal year, if changed since last
report)
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.
Yes X No
Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date:
Common Stock, $.01 par value: 35,970,371 shares as of June 5, 2001
2. TOLL BROTHERS, INC. AND SUBSIDIARIES
INDEX
Page
No.
Statement of Forward-Looking Information 1
PART I. Financial Information
ITEM 1. Financial Statements
Condensed Consolidated Balance Sheets (Unaudited) 2
as of April 30, 2001 and October 31, 2000
Condensed Consolidated Statements of Income (Unaudited) 3
For the Six Months and Three Months Ended
April 30, 2001 and 2000
Condensed Consolidated Statements of Cash Flows 4
(Unaudited)For the Six Months Ended
April 30, 2001 and 2000
Notes to Condensed Consolidated Financial Statements 5
(Unaudited)
ITEM 2. Management's Discussion and Analysis of 7
Financial Condition and Results of Operations
ITEM 3. Quantitative and Qualitative Disclosures About 12
Market Risk
PART II. Other Information 12
SIGNATURES 14
3. STATEMENT ON FORWARD-LOOKING INFORMATION
Certain information included herein and in other Company reports, SEC filings,
statements and presentations is forward-looking within the meaning of the Private
Securities Litigation Reform Act of 1995, including, but not limited to, statements
concerning the Company’s anticipated operating results, financial resources, changes
in revenues, changes in profitability, interest expense, growth and expansion, ability
to acquire land, ability to sell homes and properties, ability to deliver homes from
backlog, ability to secure materials and subcontractors, the general economy 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 expressed herein and in other Company reports, SEC
filings, statements and presentations. These risks and uncertainties include local,
regional and national economic conditions, the effects of governmental regulation, the
competitive environment in which the Company operates, fluctuations in interest rates,
changes in home prices, the availability and cost of land for future growth, the
availability of capital, fluctuations in capital and securities markets, the
availability and cost of labor and materials, and weather conditions.
Additional information concerning potential factors that the Company believes could
cause its actual results to differ materially from expected and historical results is
included under the caption “Factors That May Affect Our Future Results” in Item 1 of
our Annual Report on Form 10-K for the fiscal year ended October 31, 2000. If one or
more of the assumptions underlying our forward-looking statements proves incorrect,
then the Company’s actual results, performance or achievements could differ materially
from those expressed in, or implied by the forward-looking statements contained in
this report. Therefore, we caution you not to place undue reliance on our forward-
looking statements. This statement is provided as permitted by the Private Securities
Litigation Reform Act of 1995.
1
4. PART 1. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
TOLL BROTHERS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands)
April 30, October 31,
2001 2000
(Unaudited)
ASSETS
Cash and cash equivalents $ 117,004 $ 161,860
Inventory 2,054,341 1,712,383
Property, construction and office
equipment, net 28,131 24,075
Receivables, prepaid expenses and
other assets 129,975 113,025
Investments in unconsolidated entities 16,831 18,911
$2,346,282 $2,030,254
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Loans payable $ 345,661 $ 326,537
Subordinated notes 669,540 469,499
Customer deposits on sales contracts 115,525 104,924
Accounts payable 98,525 110,927
Accrued expenses 199,024 185,141
Income taxes payable 77,563 88,081
Total liabilities 1,505,838 1,285,109
Stockholders' equity:
Common stock 363 359
Additional paid-in capital 108,469 105,454
Retained earnings 754,311 668,608
Treasury stock (22,699) (29,276)
Total stockholders' equity 840,444 745,145
$2,346,282 $2,030,254
See accompanying notes
TOLL BROTHERS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Amounts in thousands, except per share data)
(Unaudited)
Six months Three months
ended April 30 ended April 30
2001 2000 2001 2000
2
5. Revenues:
Housing sales $955,915 $708,205 $497,546 $373,985
Land sales 22,417 20,517 11,510 11,492
Equity earnings from unconsolidated
joint ventures 5,261 3,069 2,875 3,069
Interest and other 6,192 3,246 2,593 1,940
989,785 735,037 514,524 390,486
Costs and expenses:
Housing sales 713,380 545,273 368,567 287,479
Land sales 17,538 15,648 8,998 8,609
Selling, general & administrative 98,339 75,130 51,390 39,673
Interest 24,982 19,295 13,218 10,362
854,239 655,346 442,173 346,123
Income before income taxes 135,546 79,691 72,351 44,363
Income taxes 49,843 29,348 26,573 16,413
Net income $ 85,703 $ 50,343 $ 45,778 $ 27,950
Earnings per share:
Basic $ 2.36 $ 1.38 $ 1.26 $ .77
Diluted $ 2.18 $ 1.36 $ 1.17 $ .75
Weighted average number
of shares
Basic 36,296 36,434 36,428 36,396
Diluted 39,348 36,973 39,282 37,036
See accompanying notes
TOLL BROTHERS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in thousands)
(Unaudited)
Six months
ended April 30
2001 2000
Cash flows used in operating activities:
Net income $85,703 $50,343
Adjustments to reconcile net income to net cash
used in operating activities:
Depreciation and amortization 4,873 3,966
Equity in the earnings from unconsolidated
joint ventures (5,261) (3,069)
Deferred tax provision 4,600 2,656
3
6. Changes in operating assets and liabilities:
Increase in residential inventory (320,982) (159,515)
Origination of mortgage loans (64,391)
Sale of mortgage loans 55,441
Increase in receivables, prepaid
expenses and other assets (6,080) (8,267)
Increase in customer deposits on sales contracts 10,601 25,585
Increase (decrease) in accounts payable and accrued
expenses 6,685 (3,696)
(Decrease) increase in current income taxes payable (10,508) 4,767
Net cash used in operating activities (239,319) (87,230)
Cash flows from investing activities:
Purchase of property, construction and office
equipment, net (6,851) (4,759)
Distribution from investment in unconsolidated joint
ventures 12,250 2,699
Net cash provided by (used in) investing activities 5,399 (2,060)
Cash flows from financing activities:
Proceeds from loans payable 60,000 230,060
Principal payments of loans payable (67,692) (210,275)
Net proceeds from the issuance of subordinated notes 196,975
Proceeds from stock options exercised and employee stock
plan purchases 11,331 870
Purchase of treasury stock (11,550) (3,524)
Net cash provided by financing activities 189,064 17,131
(Decrease) in cash and cash equivalents (44,856) (72,159)
Cash and cash equivalents, beginning of period 161,860 96,484
Cash and cash equivalents, end of period $117,004 $ 24,325
See accompanying notes
4
7. TOLL BROTHERS, INC. AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Amounts in thousands)
(Unaudited)
1. Basis of Presentation
The accompanying unaudited condensed consolidated financial statements have
been prepared in accordance with the rules and regulations of the
Securities and Exchange Commission for interim financial information. The
October 31, 2000 balance sheet amounts and disclosures included herein have
been derived from the October 31, 2000 audited financial statements of the
Registrant. Since the accompanying condensed consolidated financial
statements do not include all the information and footnotes required by
accounting principles generally accepted in the United States for complete
financial statements, it is suggested that they be read in conjunction with
the financial statements and notes thereto included in the Registrant's
October 31, 2000 Annual Report on Form 10-K. In the opinion of management,
the accompanying unaudited condensed consolidated financial statements
include all adjustments, which are of a normal recurring nature, necessary
to present fairly the Company's financial position as of April 30, 2001,
the results of its operations for the six months and three months ended
April 30, 2001 and 2000 and its cash flows for the six months ended April
30, 2001 and 2000. The results of operations for such interim periods are
not necessarily indicative of the results to be expected for the full year.
2. Inventory
Inventory consisted of the following:
April 30, October 31,
2000
2001
Land and land development costs $ 712,267 558,503
Construction in progress 1,169,502 992,098
Sample homes 73,102 60,511
Land deposits and costs of future
development 64,241 68,560
Deferred marketing costs 35,229 32,711
$2,054,341 $1,712,383
Construction in progress includes the cost of homes under construction,
land and land development and carrying costs of lots that have been
substantially improved.
The Company capitalizes certain interest costs to inventories during the
development and construction period. Capitalized interest is charged to
interest expense when the related inventories are closed. Interest
incurred, capitalized and expensed is summarized as follows:
Six months Three months
ended April 30 ended April 30
2001 2000 2001 2000
Interest capitalized,
beginning of period $78,443 $64,984 $83,592 $70,188
Interest incurred 37,399 28,631 20,486 14,438
Interest expensed (24,982) (19,295) (13,218) (10,362)
Write off to cost of sales (434) (149) (434) (93)
Interest capitalized,
end of period $90,426 $74,171 $90,426 $74,171
3. Earnings per share information:
Information pertaining to the calculation of earnings per share for the
six months and three months ended April 30, 2001 and 2000 is as follows:
5
8. Six months Three months
ended April 30 ended April 30
2001 2000 2001 2000
Basic weighted average
shares outstanding 36,296 36,434 36,428 36,396
Stock options 3,052 539 2,854 640
Diluted weighted average
shares 39,348 36,973 39,282 37,036
4. Subordinated Notes
In January 2001, the Company issued $200,000,000 of 8 1/4% Senior
Subordinated Notes due 2011. The Company used the proceeds for general
corporate purposes including the acquisition of inventory.
5. Stock Repurchase Program
The Company’s Board of Directors has authorized the repurchase of up to
5,000,000 shares of its Common Stock, par value $.01, from time to time,
in open market transactions or otherwise, for the purpose of providing
shares for the Company’s various employee benefit plans. As of April 30,
2001, the Company had repurchased approximately 331,000 shares under the
program. As of April 30, 2001, the Company held 702,000 shares in
Treasury.
6. Supplemental Disclosure to Statement of Cash Flows
The following are supplemental disclosures to the statements of cash flow
for six months ended April 30, 2001 and 2000 (amounts in thousands):
2001 2000
Supplemental disclosures of cash flow information:
Interest paid, net of capitalized amount $ 5,440 $ 4,575
Income taxes paid $ 55,750 $ 21,925
Supplemental disclosures of non-cash activities:
Cost of residential inventories acquired
through seller financing $ 27,645 $ 2,893
Investment in unconsolidated subsidiary
acquired through seller financing $ 8,000
Income tax benefit relating to exercise of
employee stock options $ 4,611 $ 492
Stock bonus awards $ 4,413 $ 1,395
Contributions to employee retirement plan $ 791 $ 781
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
RESULTS OF OPERATIONS
The following table sets forth, for the periods indicated, certain income
statement items related to the Company's operations (dollars in millions):
Six months ended April 30 Three months ended April 30
2001 2000 2001 2000
$ % $ % $ % $ %
Housing sales
Revenues 955.9 708.2 497.5 374.0
Costs 713.3 74.6 545.3 77.0 368.6 74.1 287.5 76.9
6
9. Land sales
Revenues 22.4 20.5 11.5 11.5
Costs 17.5 78.2 15.6 76.3 9.0 78.2 8.6 74.9
Equity earnings from
unconsolidated joint
ventures 5.3 3.1 2.9 3.1
Other 6.2 3.2 2.6 1.9
Total Revenues 989.8 735.0 514.5 390.5
Selling, general
& administrative
expense* 98.3 9.9 75.1 10.2 51.4 10.0 39.7 10.2
Interest expense* 25.0 2.5 19.3 2.6 13.2 2.6 10.4 2.7
Total costs and
expenses* 854.2 86.3 655.3 89.2 442.0 85.9 346.1 88.6
Income before
income taxes 135.5 13.7 79.7 10.8 72.4 14.1 44.4 11.4
Note: Due to rounding, amounts may not add.
*Percentages are based on total revenues.
HOUSING SALES
Housing revenues for the six-month and three-month periods ended April 30, 2001
were higher than those of the comparable periods of 2000 by approximately $247.7
million or 35%, and $123.6 million or 33%, respectively. The increase in revenues
in the six-month period of 2001 was attributable to an 18% increase in the number
of homes delivered and an 15% increase in the average price of the homes
delivered. The increase in revenues in the three-month period of 2001 was
attributable to a 17% increase in the average price of the homes delivered and a
14% increase in the number of homes delivered. The increase in the number of homes
delivered in the six- month and three-month periods was due to the greater number
of communities from which the Company was delivering homes and the larger backlog
of homes at the beginning of fiscal 2001 as compared to the beginning of fiscal
2000. The increase in the backlog was the result of the 31% increase in contracts
signed in fiscal 2000 as compared to fiscal 1999. The increase in the average
price of homes delivered was the result of increased selling prices and a shift
in the location of homes delivered to more expensive areas.
The aggregate sales value of signed contracts for the six-month and three-month
periods ended April 30, 2001 increased by 10% and 7%, respectively, compared to
each of the comparable periods of fiscal 2000. These increases were primarily the
result of increases in the average price of homes sold due to the location, size
and increases in the base selling prices.
As of April 30, 2001, the backlog of homes under contract but not delivered
amounted to $1.61 billion (3,112 homes), a 16% increase over the $1.39 billion
(2,957 homes) backlog as of April 30, 2000 and a 12% increase over the $1.43
billion (2,779 homes) backlog as of October 31, 2000.
Based upon the aforementioned 35% increase in homes delivered for the six months
ended April 30, 2001 and the 16% higher backlog of homes under contract but not
delivered as of April 30, 2001 as compared to April 30, 2000, the Company expects
fiscal 2001 homebuilding revenues to be higher than fiscal 2000 homebuilding
revenues.
Housing costs as a percentage of housing sales decreased in both periods of fiscal
2001 as compared to the comparable periods of fiscal 2000. The decreases were the
result of selling prices increasing at a greater rate than costs, lower land and
improvement costs and improved operating efficiences.
7
10. EQUITY EARNINGS FROM UNCONSOLIDATED JOINT VENTURES
In fiscal 1998, the Company entered into a joint venture to develop and sell land
owned by the other partner. Under the terms of the agreement the Company has the
right to purchase up to a specified number of lots. The joint venture also sells
lots to other builders. In the quarter ended April 30, 2000, the joint venture
sold its first group of lots to other builders and to the Company. The Company
recognizes earnings from the sale of lots to other builders but does not recognize
earnings from lots that it purchases but reduces its cost basis in the lots.
Earnings from this joint venture will vary significantly from quarter to quarter.
LAND SALES
The Company operates a land development and sales operation in Loudoun County,
Virginia and is also developing several master planned communities in which it
has sold and may in the future, sell lots to other builders. The amount of land
sales will vary from quarter to quarter depending upon the scheduled timing of the
delivery of the land parcels.
INTEREST AND OTHER INCOME
For the six month and three month periods ended April 30, 2001, other income
increased $2.9 million and $.7 million, respectively, as compared to the
comparable periods of fiscal 2000. This increase was primarily the result of an
increase in interest income due to the investment of available cash and increased
earnings from the Company’s ancillary businesses.
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES (“SG&A”)
SG&A increased by $23.2 million or 31%, and $11.7 million or 30%, respectively,
in the six-month and three-month periods ended April 30, 2001 as compared to the
same periods of fiscal 2000. These increases were primarily due to the increase
in the level of construction and sales activities in the fiscal 2001 periods as
compared to the fiscal 2000 periods and the write-off of certain investments in
technology companies. As a percentage of total revenue, SG&A decreased in both
periods of fiscal 2001 as compared to the comparable periods of fiscal 2000.
INTEREST EXPENSE
The Company determines interest expense on a specific lot-by-lot basis for its
homebuilding operations and on a parcel-by-parcel basis for its land sales. As a
percentage of total revenues, interest expense will vary depending on many factors
including the period of time that the land was owned, the length of time that the
homes delivered during the period were under construction, and the interest rates
and the amount of debt carried by the Company in proportion to the amount of its
inventory during those periods. Interest expense as a percentage of revenues was
lower in the fiscal 2001 periods as compared to the same periods in fiscal 2000.
OPERATING INCOME
Operating income increased by 70% and 63% in the six-month and three-month periods
of fiscal 2001 compared to the same periods of fiscal 2000.
INCOME TAXES
Income taxes were provided at an effective rate of 36.8% and 36.7% for the six-
month and three-month periods of fiscal 2001, respectively. For the comparable
periods of fiscal 2000, income taxes were provided at 36.8% and 37.0%.
CAPITAL RESOURCES AND LIQUIDITY
Funding for the Company’s operations has been principally provided by cash flows
from operations, unsecured bank borrowings, and from the public debt and equity
markets.
Cash flow from operations, before inventory additions, has improved as operating
8
11. results have improved. The Company has used its cash flow from operations, bank
borrowings and public debt to acquire additional land for new communities, to fund
additional expenditures for land development and construction costs needed to meet
the requirements of the increased backlog and continuing expansion of the number
of communities in which the Company is offering homes for sale, and to repay debt.
The Company expects that inventories will continue to increase and is currently
negotiating and searching for additional opportunities to obtain control of land
for future communities.
As of April 30, 2001, the Company had a $465 million unsecured revolving credit
facility with sixteen banks which extends through February 2003 of which $80
million of loans and approximately $37.6 million of letters of credit were
outstanding. In May 2001, the Company increased the facility by $20 million and
extended $445 million of the facility to March 2006. The Company believes that it
will be able to fund its activities through a combination of existing cash
resources, cash flow from operations and existing sources of credit.
HOUSING DATA
Contracts
Six months ended April 30,
2001 2000
units $000 units $000
Northeast (MA,RI,NH,CT,NY,NJ) 443 $219,368 554 $264,607
Mid-Atlantic (PA,DE,MD,VA) 791 371,045 664 300,584
Midwest (OH,IL,MI) 296 123,604 244 103,139
Southeast (FL,NC,TN) 275 124,270 206 98,848
Southwest (AZ,NV,TX) 272 140,316 393 154,802
West Coast (CA) 234 163,804 201 119,516
Total(1) 2,311 $1,142,407 2,262 $1,041,496
Closings
Six months ended April 30,
2001 2000
units $000 units $000
Northeast (MA,RI,NH,CT,NY,NJ) 463 $232,426 473 $217,937
Mid-Atlantic(PA,DE,MD,VA) 599 277,811 525 233,142
Midwest (OH,IL,MI) 203 90,103 140 47,743
Southeast (FL,NC,TN) 215 99,295 104 49,998
Southwest (AZ,NV,TX) 261 123,497 349 122,899
West Coast (CA) 209 132,783 66 36,486
9
12. Total 1,950 $955,915 1,657 $708,205
Backlog
As of April 30,
2001 2000
units $000 units $000
Northeast (MA,RI,NH,CT,NY,NJ) 703 $354,528 804 $392,885
Mid-Atlantic (PA,DE,MD,VA) 871 412,454 831 378,836
Midwest (OH,IL,MI) 376 172,776 315 131,141
Southeast (FL,NC,TN) 372 171,607 264 125,411
Southwest (AZ,NV,TX) 428 226,145 464 202,135
West Coast (CA) 362 275,988 279 163,773
Total(1) 3,112 $1,613,498 2,957 $1,394,181
Contracts
Three months ended April 30,
2001 2000
units $000 units $000
Northeast (MA,RI,NH,CT,NY,NJ) 263 $126,609 325 $157,191
Mid-Atlantic(PA,DE,MD,VA) 482 224,648 414 186,310
Midwest (OH,IL,MI) 187 77,775 143 61,516
Southeast (FL,NC,TN) 199 84,118 143 67,947
Southwest (AZ,NV,TX) 161 80,712 241 98,175
West Coast (CA) 136 100,548 132 78,779
Total (1) 1,428 $694,410 1,398 $649,918
Closings
Three months ended April 30,
2001 2000
units $000 units $000
Northeast (MA,RI,NH,CT,NY,NJ) 219 $113,741 250 $118,254
Mid-Atlantic (PA,DE,MD,VA) 295 138,005 253 116,414
Midwest (OH,IL,MI) 111 50,238 65 23,686
Southeast (FL,NC,TN) 102 48,758 54 26,724
Southwest (AZ,NV,TX) 133 67,703 194 67,219
West Coast (CA) 119 79,101 42 21,688
Total 979 $497,546 858 $373,985
(1) Contracts for the three-month and six-month periods ended April 30, 2001
included $5,100,000 (17 homes) and $9,433,000 (32 homes), respectively, from
an unconsolidated 50% owned joint venture. Contracts for the three-month and
10
13. six-month periods ended April 30, 2000 included $3,135,000 (12 homes) and
$7,894,000 (30 homes), respectively, from this joint venture. Backlog as April
30, 2001 and 2000 included $10,919,000 (37 homes) and $14,855,000 (55 homes),
respectively, from this joint venture.
ITEM 3. Quantitative and Qualitative Disclosures About Market Risk
Not applicable
PART II. Other Information
ITEM 1. Legal Proceedings
None.
ITEM 2. Changes in Securities and Use of Proceeds
None.
ITEM 3. Defaults upon Senior Securities
None.
ITEM 4. Submission of Matters to a Vote of Security Holders
The Company's 2001 Annual Meeting of Shareholders was held on March 22,
2001.
The following proposals were submitted and approved by security holders at
the Annual Meeting. There was 36,494,010 shares of the Company’s common
stock eligible to vote at the 2001 Annual Meeting.
(i) The election of four directors to hold office until the 2004 Annual
Meeting of Shareholders.
WITHHELD
FOR AUTHORITY
NOMINEE
Zvi Barzilay 32,517,355 1,871,164
Edward G. Boehne 33,625,877 762,641
Richard J. Braemer 33,196,239 1,192,279
Carl B. Marbach 33,638,462 750,057
(ii) The approval of proposed amendments to the Company’s Certificate
of Incorporation.
FOR AGAINST ABSTAIN
23,528,066 6,079,383 126,318
(iii) The approval of proposed amendment to the Toll Brothers, Inc. Cash
Bonus Plan.
11
14. FOR AGAINST ABSTAIN
32,376,099 1,852,027 160,392
(iv) The approval of the Toll Brothers, Inc. Executive Officer Cash
Bonus Plan.
FOR AGAINST ABSTAIN
33,135,339 1,094,381 158,797
ITEM 5. Other Information
None.
ITEM 6. Exhibits and Reports on Form 8-K
(a) Exhibits
10.1 Amendment to the Toll Brothers, Inc. Cash Bonus Plan dated as of
December 14, 2000.
10.2 Toll Brothers, Inc. Executive Officer Cash Bonus Plan
10.3 Amended and Restated Credit Agreement by and among First Huntingdon
Finance Corp., Toll Brothers, Inc. and the Lenders dated May 18,
2001.
(b) Reports on Form 8-K
None
12
15. SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned thereunto duly
authorized.
TOLL BROTHERS, INC.
(Registrant)
Date: June 12, 2001 By: /s/ Joel H. Rassman
Joel H. Rassman
Senior Vice President,
Treasurer and Chief
Financial Officer
Date: June 12, 2001 By: /s/ Joseph R. Sicree
Joseph R. Sicree
Vice President -
Chief Accounting Officer
(Principal Accounting Officer)
13