Toll Bros Earns A Profit

neighborhoodToll Brothers made a surprise profit in the first quarter of the company’s fiscal year. The nation’s largest luxury homebuilder, based in Horsham, had a net income of $3.4 million for the quarter that ended January 31.  Wall Street analysts had predicted a loss.  The company says new contracts were up and cancellations were down, but many would-be homebuyers are still put off by high unemployment, uncertainty over home prices, and low confidence in the economy.  Executive Chairman Robert Toll says a few good quarters will restore confidence and pull consumers off the fence and into the market.

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