Toll Brothers Announces Earnings

Toll Brothers (TOL) announced that it earned $411.4 million or $2.35 per share, in the fiscal fourth quarter, versus $15 million, or 9 cents per share, in the same period last year, mainly due to a $350.7 million tax benefit. Revenue was higher by 48 percent to $632.8 million, beating expectations of $565.1 million. More homes were delivered, and order backlog increased, as well.