Former FBMA head forms consulting company
Bill Tucker, former president of the Florida Building Material Association and his wife Terri, previously CFO of Ro-Mac Lumber and Supply, have formed E to the Third Power Consulting — e3 Consulting.
Based in Leesburg, Fla., the company will offer leadership training as well as CFO-level services to companies unable to afford a full-time CFO. “E to the third power refers to the three E’s we bring to our clients: experience, expertise and empathy," said Bill Tucker.
In 1992, Bill Tucker started with the Florida Building Material Association as the executive director of the Florida Wood Council and in 1999 became the president of the association — a position he held through December 2011. In addition to leadership training, Bill is an account executive with Schaffer Associates, an executive search and recruiting firm.
Terri Tucker began her career with big-8 accounting firm Deloitte Haskins and Sells. It was during her tenure at Deloitte that she became a certified public accountant. In 2002, Terri became the CFO of Ro-Mac Lumber and Supply, a major Florida independent building supply firm. She served in that capacity until October of this year.
Weyerhaeuser expands Tamko distribution
Weyerhaeuser has announced the addition of Tamko decking and railing systems to three of its distribution centers in the United States: Baltimore; Pittsburgh; and Easton, Pa. This extends Weyerhaeuser’s Tamko product distribution to 21 of 22 nationwide markets.
“As the housing market picks back up, more builders are demanding fast and simple access to quality building materials,” said Jim Warnke, east division general manager for Weyerhaeuser Distribution. “Homeowner interest in outdoor living is high, and a new or refurbished deck is at the top of the home improvement list for many people. With the addition of Tamko decking and railing at these three distribution centers, we can better serve our customers with a full range of products they need, from structural framing to outdoor living to exterior finishing.”
Profits soar at Toll Brothers
The Horsham, Pa.-based luxury home builder Toll Brothers has posted a fourth-quarter profit of $411.4 million, compared with $15.0 million in profits in the same quarter in 2011. The 2012 results included a net tax benefit of $350.7 million.
Fourth-quarter revenues of $632.8 million increased 48% compared with a year ago. Home-building deliveries of 1,088 units increased 44% in units compared with the previous year. The price of homes delivered was $582,000 in the fourth quarter, compared with $565,000 in fourth quarter of fiscal 2011.
For the entire fiscal year, which ended Oct. 31, net income was $487.1 million. This included a net tax benefit of $374.2 million. In comparison, FY 2011’s net income was $39.8 million.
FY 2012’s fourth-quarter revenues and home-building deliveries of $632.8 million and 1,088 units increased 48% in dollars and 44% in units, compared with FY 2011’s fourth-quarter results of $427.8 million and 757 units. The average price of homes delivered was $582,000, compared with $576,000 in FY 2012’s third quarter and $565,000 in FY 2011’s fourth quarter.
Toll Brothers ended fiscal 2012 with a backlog of approximately $1.67 billion and 2,569 units, which increased 70% in dollars and 54% in units, compared with FY 2011’s year-end backlog of $981.1 million and 1,667 units.
Looking forward, the company expects to end fiscal 2013 with between 225 and 255 selling communities, compared to its peak of 325 communities at FY 2007’s second-quarter end. The home builder ended FY 2012 with 224 selling communities, compared with 215 at the end of fiscal 2011.
Douglas Yearley Jr., Toll Brothers’ CEO, stated, "Pent-up demand, rising home prices, low interest ratesand improving consumer confidence motivated buyers to return to the housing market in FY 2012. As household formations accelerated and unsold home inventories dropped to record lows, the industry took further steps toward a sustained housing recovery.
"We enjoyed resurgent activity across all of our product lines and in most of our geographic regions. The momentum that began in our first quarter of FY 2012 built throughout the year."