UPDATE: Toll Brothers Posts FQ1 Loss

Toll Brothers Inc (NYSE: TOL) swung to a fiscal-first-quarter loss.

Toll Brothers posted a quarterly loss of $2.8 million, or $0.02 per share, versus a year-ago net income of $3.4 million, or $0.02 per share. Its shares outstanding dropped 1.1% to 166.3 million. However, its revenue fell to $322 million from $334.1 million. However, analysts were projecting earnings of $0.02 per share on revenue of $360.8 million

Toll Brothers shares closed at $23.70 yesterday.