Luxury homebuilder Toll Brothers reported operating results through April on Tuesday morning, and the tally shows that the housing mess is far from over. Some highlights:
Revenue of approximately $817.9 million, down 30 percent from one year ago.
Inventory backlog 50 percent lower than year-ago, signaling a slowing in build activity.
Average prices fell to $590,000, compared to $711,000 in the year ago quarter, and $634,000 in FY 2008's first quarter (Toll's fiscal year doesn't run in tandem with the calendar year)