BOSTON (MarketWatch) -- Toll Brothers Inc. said early Wednesday that it swung to fiscal third-quarter profit as the home builder was helped by a tax gain.
For the quarter ended July 31, Toll earned $27.3 million, or 16 cents a share, compared with a loss of $472.3 million, or $2.93 a share, in the year-earlier period. Revenue declined to $454.2 million from $461.4 million.
Toll said the latest quarter's results included a tax benefit of $26.5 million.
On average, analysts surveyed by FactSet Research expected the company to report a loss of 14 cents a share on revenue of $392.9 million.
Shares of Toll rose 2.8% in premarket action.
http://www.marketwatch.com/story/toll-brothers-swings-to-profit-on-tax-benefit-2010-08-25
Price question : So, what has Toll brothers to do with macro data like new home sales and existing home sales ?
For the quarter ended July 31, Toll earned $27.3 million, or 16 cents a share, compared with a loss of $472.3 million, or $2.93 a share, in the year-earlier period. Revenue declined to $454.2 million from $461.4 million.
Toll said the latest quarter's results included a tax benefit of $26.5 million.
On average, analysts surveyed by FactSet Research expected the company to report a loss of 14 cents a share on revenue of $392.9 million.
Shares of Toll rose 2.8% in premarket action.
http://www.marketwatch.com/story/toll-brothers-swings-to-profit-on-tax-benefit-2010-08-25
Price question : So, what has Toll brothers to do with macro data like new home sales and existing home sales ?