Toll Brothers' Profit, Revenue Surge

Horsham, PA, Sept. 3, 2014 -- Luxury homebuilder Toll Brothers Inc. reported third quarter net income of $97.7 million, or $0.53 a share, up from $46.6 million, or $0.26 a share, a year ago.

Revenue rose 53% to $1.06 billion.

The company said it completed and transferred 1,444 units in the period, up 36% from the year-ago quarter.

The average price of homes delivered was $732,000, up from $651,000 a year ago.

However, the company reported 1,324 units signed contracts, down about 6% from a year earlier.