Toll Brothers, builders of Jupiter Country Club, Frenchman's Reserve and the new Frenchman's Harbor in Juno Beach reported it's fiscal fourth-quarter net income slid 70 percent, partly because last year's quarter was helped by a large tax benefit and fewer cancellations this year.
Executive Chairman Robert Toll said that the company believes its prospective customers have the ability to buy but that a lack of confidence in the U.S. economy is holding people back from making purchases.
Fourth-quarter home deliveries climbed 8 percent to 757 units. Signed contracts increased 15 percent to 644 units with the average price of its quarterly signed contracts was $606,000, up from $565,000 a year ago.
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