Shares of Toll Brothers (TOL) lost over 3% of their value over the past trading week. The construction company of luxury homes reported its fourth quarter results on Tuesday. Investors were not enthusiastic given that Toll Brothers made some cautious comments for the first quarter of its fiscal 2013.
Fourth Quarter Results
Toll Brothers reported fourth quarter revenues for its fiscal 2012 of $632.8 million, up 47.9% on the year before. Revenue growth was driven by a 44% increase in the number of units sold to 1,088. Revenues came in much stronger than analysts consensus of $566.7 million.
Income from operations came in at $52.6 million, compared to a loss of $3.2 million last year. Pre-tax income came in at $60.7 million, compared to $15.3 million in the fourth quarter last year.
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