Builder Toll Brothers Reports Higher Income, Revenue

Horsham, PA, Feb. 24, 2015 -- Luxury home builder Toll Brothers reported that its first quarter net income rose to $81.3 million, or $0.44 per share, from $45.6 million, or $0.25 per share, a year earlier.

Total revenue rose 33% to $853.5 million.

Toll said the number of homes completed rose 18% to 1,091, while the average selling price rose 13% to $782,300.

"More jobs and better jobs should boost household formations and provide a basis for stronger housing demand," Executive Chairman Robert Toll said in a press release.

The firm raised its guidance for the year.