Toll Brothers posts surprise 1st-quarter profit

A sign for Toll Brothers is seen outside their offices in Horsham, Pa., Tuesday, June 3, 2008. Toll Brothers says hefty write-downs on the value of land joint ventures drove the luxury homebuilder to a second-quarter loss, but results topped Wall Street expectations. (AP Photo/Matt Rourke) (AP Photo/Matt Rourke)

February 23, 2011 7:37:41 AM PST
Toll Brothers Inc. posted a surprise profit for its fiscal first quarter, helped by a larger tax benefit and a higher average price for its homes.