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Toll Brothers

Builder of luxury homes.

Headquarters:
250 Gibralatar Rd.
Horsham, PA 19044
Employees: 2,215
CEO: Douglas Yearley Jr.
Stock Symbol: TOL

Website: http://www.tollbrothers.com

Career Site

Toll Brothers is the nation's premier builder of luxury homes and is currently building in 20 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Texas, Virginia and West Virginia.

The company has experienced steep declines in sales over the past several years due to the collapse in the home market.

Toll Brothers builds luxury single-family detached and attached home communities, master planned luxury residential resort-style golf communities and urban low-, mid- and high-rise communities, principally on land it develops and improves. The Company operates its own architectural, engineering, mortgage, title, land development and land sale, golf course development and management, home security and landscape subsidiaries. The Company also operates its own lumber distribution, and house component assembly and manufacturing operations.

In fiscal 2011, Toll Brothers reported revenues of $1.47 billion, a 1% drop over the previous year, and net income of $39.8 million. The company built 2,611 units in 2011, down 1% from the previous year.

The company ended the year with 215 selling communities, up from 195 in 2010 with 37,500 lots owned or optioned.

Douglas Yearley, CEO of Toll, said, "Our strong balance sheet gives us the financial flexibility to invest for the future. During FY 2011, we spent approximately $281 million on land for our core traditional and urban new home business, purchasing approximately 3,400 lots and optioning another 5,800: this resulted in a net increase to 37,500 lots owned and controlled at FYE 2011 versus 34,700 at FYE 2010. Nearly 60% of our lots are concentrated in the land-constrained metro Washington DC to metro Boston corridor, which enjoys lower unemployment and greater affluence than many other regions. Recently, we announced our entry into the Seattle market through the acquisition of CamWest LLC, which added approximately 1,300 lots owned and 200 under option to our land position. During FY 2012, including Seattle, we project growing our community count by between 9% and 19% and reaching FYE 2012 with between 235 and 255 selling communities.

"The urban metro New York City market remains a bright light for us. In FY 2011, we opened for sale three new buildings under our "Toll Brothers City Living" brand. We launched 1450 Washington Avenue, the fourth building in our successful Hudson Tea project at the northern tip of Hoboken, New Jersey. In Manhattan, we opened The Touraine on the Upper East Side at 65th Street and Lexington Avenue, a small boutique building with an average projected sales price of $5 million per unit. On the Brooklyn waterfront, we opened 205 Water Street in the DUMBO neighborhood. Before opening for sale, The Touraine and 205 Water each had lists of over 3,000 potential customers who had expressed interest. In total, in the urban metro New York City market, we have completed 13 buildings of approximately 2,550 units, approximately 2,430 of which have been sold; we are in construction on three buildings of 245 units; and have eight more buildings of approximately 1,600 units in planning."

The company was founded in 1967 by brothers Robert and Bruce Toll. It went public on the NYSE in 1986.

Benefits

Toll Brothers offers excellent benefits to employees including a discount on purchase of Toll homes as well as mortgage, title insurance and appliance discounts. After two years of service with the company, employees can also have access to furnished luxury guesthouses for use as vacation homes at resort destinations around the country.

401(k) Savings Plan
Toll Brothers generously contributes to your account with both an initial discretionary contribution and matching dollars. The company contributes 2 percent of your total compensation at the end of each calendar year, and matches 50 cents on every dollar you contribute, up to 4 percent of your compensation.

Discounted Stock Purchase Plan
You may purchase Toll Brothers at a 5 percent discount (no holding period) or a 15 percent discount (3-year holding period) through either a cash purchase or a payroll deduction.

Medical / Dental Plans
Comprehensive coverage of medical expenses for you and eligible dependents under one of the company's plans. Depending on the plan and your position, the company pays a majority of the coverage cost and you make a small contribution with pre-tax dollars. Eligibility starts on the first of the month following 60 days of service.

Medical Insurance Waiver
If you are covered by another plan and elect to waive all insurance coverage, you will be paid a quarterly reimbursement.

Educational Reimbursement
Toll Brothers offers tuition reimbursement for authorized work-related courses and seminars. We also provide in-house training programs for technical and nontechnical skills.

Paid Time Off
You receive two weeks of paid vacation per year for your first 5 years of employment and 3 weeks per year after 5 years of service. In addition, each year you receive 3 floating holidays.

Long Term Disability
The Company offers long-term disability in the amount of 60% of your basic monthly earnings at no cost to you.

Short Term Disability
You will be able to purchase (at a reduced group rate) short-term disability insurance which provides benefits for 12 weeks.

Sick Pay
Sick pay accrues up to six days per year. You can accumulate unused sick days as long as you are employed by the Company.

Updated April 14, 2012