Toll Brothers Announces Earnings

Toll Brothers (TOL) announced that it earned $4.4 million, or 3 cents per share, during its first fiscal quarter, versus a loss of $2.8 million, or two cents per share, in the same quarter last year. Revenue increased by 32 percent to $424.6 million from $322 million. The number of homes delievered increased by 32 percent to 746 units, while the average price per home fell by one percent from $571,000 to $569,000.