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The Horsham, Pa., homebuilder -- one of the largesgt in GreaterBaltimore -- anticipates takinb between $100 million and $200 milliom in pre-tax writedowns for the first quarter, thougyh it is still making a finalk calculation. Toll (NYSE: TOL) offered no guidance and expects to reporgt final resultsMarch 4. Its preliminary result s were down acrossthe board. Revenue was $409.3. Backlog was $1.044 billion, down 56 percent. Signed contracts were $128.1 million, a 66 percentg drop. One of the bright spotds was a reductionin cancellations.
In the firsgt quarter, the company had 157 cancellations totalinfabout $115 million, compared with 257 cancellationes totaling $198 million for the same period a year ago and 233 cancellationas totaling $183 million in the most recen t fourth quarter. Toll also saw an uptick in activity in Januaryu compared to November and which it attributed to offering anaggressive 3.99 0-point, 30-year fixed-rate mortgage promotion. The companh said it continues to have plenty of cash on banking $1.53 billion. Toll, which has an office in ranked 22nd on the BaltimoreBusiness Journal's 2008 list of largest residentiaol builders.
The company ranked 12th the year
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