Toll Brothers posts profit in 1st quarter, new orders jump 49 pct
Feb 20 (Reuters) - Toll Brothers Inc, the largest luxury homebuilder in the United States, reported a quarterly profit compared with a loss in the previous year and said new orders jumped 49 percent.
Net income for the first quarter was $4.4 million, or 3 cents per share, compared with a loss of $2.8 million, or 2 cents per share, a year earlier.
Revenue rose 31 percent to $424.6 million.
Homebuilders D.R Horton and Pultegroup reported better-than-expected quarterly profits last month as new homes were in low supply.