Toll Brothers Sees Big Upswing in Business
Horsham, PA, Dec. 4, 2012 -- Luxury home builder Toll Brothers, Inc. reported that fourth quarter revenues rose 48%, with a 44% increase in units.
In addition, contracts rose 75% in dollars and 70% in units, and backlog rose 70% in dollars and 54% in units, compared to a year ago.
Net income was $411.4 million, or $2.35 per share, compared to $15.0 million, or $0.09 per share last year. Included this year's fourth quarter was a net tax benefit of $350.7 million.
The average price of homes delivered was $582,000, compared to $576,000
"We enjoyed resurgent activity across all of our product lines and in most of our geographic regions," said CEO Douglas C. Yearley, Jr.