Toll Brothers posts smaller loss in fiscal Q2

[May 25, 2011]  HORSHAM, Pa. (AP) -- Luxury homebuilder Toll Brothers Inc. is reporting a smaller loss in its fiscal second quarter both home deliveries and new contracts picked up.

The company said Wednesday it lost $20.8 million, or 12 cents a share, in the three months ended April 30. That compares with a net loss of $40.4 million, or 24 cents a share, a year ago.

Revenue grew 3 percent to $319.7 million from $311.3 million a year earlier.

Analysts polled by FactSet were expecting a loss of 4 cents a share on revenue of about $320.5 million.

The builder's new home contracts increased 8 percent to $500.9 million in the January to April period, while the number of delivered homes rose 9 percent to 591. The average price for delivered homes rose 1 percent.

[Associated Press]

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.