UPDATE: Toll Brothers Posts Rise In FQ1 Profit

Toll Brothers

reported a gain in its fiscal first-quarter profit. Toll Brothers posted its quarterly income of $45.6 million, or $0.25 per share, versus $4.4 million, or $0.03 per share, in the year-ago quarter. Its pretax income rose to $71.2 million from $8.3 million. Its revenue surged 52% to $643.7 million, versus analysts' estimates of $643.9 million. Toll Brothers shares closed at $38.34 yesterday.