by Al Heavens
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Toll Bros. narrows loss, misses view
Toll Bros. today reported a second-quarter net loss of $83.17 million, or 52 cents per share, compared with a net loss of $93.74 million or 59 cents per share last year, on revenue 51 percent lower than the same 2008 period.
Analysts had expected a loss of 44 cents a share.
While saying that it appears "some buyers are beginning to re-enter the new-home market" and that cancellations are leveling off, chairman and chief executive officer Robert I. Toll also observed that "concerns about job security and the economy continue to inhibit traffic and the conversion of deposits to contracts."
Excluding write-downs, the Horsham luxury-home builder's loss was $5.2 million, or 3 cents a share, compared with earnings of $56.5 million, or 32 cents per share in last year's second quarter.
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by Leslie Krowchenko
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Marple Newtown budget calls for 4.1 percent hike
NEWTOWN - The Marple Newtown School Board recently approved the proposed final budget for the 2009-2010 school year.
The board voted 6-2 on the $58.2 million budget and 4.1 percent increase, raising the rate from 14.5367 to 15.1327 mills.
Based on the previous year's average assessment of $249,218 for homes within the district, the typical tax bill would be $3,771, an increase of $148. Many homeowners would have slightly lower bills due to the rebate provided by the Homestead Act.
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