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New York

Toll Brothers faces sixth quarterly loss

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Toll Brothers reported its
sixth consecutive quarterly loss today. The company’s net loss for the first quarter, which ended January 31, fell to $88.9 million, down from $96 million during the same
period last year. The loss was larger than analysts expected, and
revenue fell 51 percent to $409 million. The developer has been reducing prices at its developments in the city — including One Northside Piers in Williamsburg — to clear out units.