UPDATE: Toll Brothers Posts Surge In FQ4 Profit

Toll Brothers TOL reported a rise in its fiscal fourth-quarter profit. Toll Brothers' quarterly profit surged to $411 million, or $2.35 per share, from $15 million, or $0.09 per share, in the year-earlier period. The latest quarter profit included a net tax benefit of $350.7 million. Its revenue rose to $632.8 million, from $427.8 million. However, analysts were expecting earnings of $0.25 per share on revenue of $565.1 million. Toll Brothers shares closed at $32.43 yesterday.