News Summary: Toll Brothers 3Q profit climbs

AP News
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Posted: Aug 22, 2012 11:03 AM

EXPECTATIONS BEAT: Homebuilder Toll Brothers Inc. said Wednesday that it earned 36 cents per share on revenue of $554.3 million in the third quarter. The performance beat the 18 cents per share on revenue of $515.2 million that analysts polled by FactSet expected.

HOME SWEET HOME: Home deliveries rose 39 percent in the quarter, with the average price of those homes rising to $576,000 from $569,000.

GREAT EXPECTATIONS Toll, which caters to the luxury sector, said backlog increased 44 percent to 2,559 homes, while net signed contracts climbed 57 percent to 1,119 units.