Toll BrothersLuxury homebuilder Toll Brothers (TOL) reported earnings of $27.3 million or 16 cents per diluted share for the third quarter of fiscal 2010, compared with a loss of $2.93 per share in the third quarter of fiscal 2009.

The results beat Wall Street estimates. Analysts polled by Thomson Reuters were expecting the company to lose 14 cents a share.

Revenue for the quarter was $454 million, down from $461 million a year earlier, the company said in a statement. Pre-tax write-downs fell to $12.5 million, from $115 million a year earlier.

"We were pleased to return to profitability this quarter," CEO Douglas Yearley Jr. said. "Although revenues and unit deliveries for the quarter were relatively flat compared to one year ago, our gross margin, before write-offs, improved by 350 basis points."

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donut999

how much of it was tax savings from prior year results? this was a sweet, quiet, little pearl for them.

August 26 2010 at 10:11 AM Report abuse rate up rate down Reply
wasabimon

TOO BAD---BUILDING HOUSES IS JUST ANOTHER PYRAMID SCHEME---MAKES A FEW RICH---KEEPS THE RICH RICHER---WE DONT NEED OR WANT MORE PEOPLE HERE- EVERY TIME A HOUSE IS BUILT IN YOUR TOWEN YOUR TAXES GO UP---YOUR SCHOOLS GET BIGGER--YOUR TRAFFIC GETS WORSE--WHO PROFITS ?? A FEW RICH PEOPLE

August 25 2010 at 10:43 AM Report abuse +2 rate up rate down Reply
goringm14

Hmmm house sales are down but they make a profit? Someone is buying homes.

August 25 2010 at 8:10 AM Report abuse +2 rate up rate down Reply