Toll Brothers Q4 Profit Falls, But Results Top Estimates - Quick Facts

(RTTNews) - Toll Brothers, Inc. (TOL) reported that its fourth quarter of fiscal 2013 net income declined to $94.91 million, or $0.54 per share, from $411.42 million, or $2.35 per share in fourth quarter of fiscal 2012. Analysts polled by Thomson Reuters expected the company to report earnings of $0.43 per share for the quarter. Analysts' estimates typically exclude special items.

The latest-quarter results included a deferred tax asset valuation allowance reversal of $4.6 million, compared to a deferred tax asset valuation allowance reversal of $394.7 million last year.

Revenues for the quarter grew to $1.04 billion from $632.83 million in the prior year quarter. Twenty analysts had consensus revenue estimate of $1.00 billion for the quarter.

Douglas Yearley, Jr., Toll Brothers' chief executive officer, said"As we look forward to FY 2014, we see our revenues and community count growing, margins improving and our profitability increasing."