Superstorm Sandy didn’t hurt Toll Brothers Inc.’s earnings, as the luxury-home builder’s fiscal fourth-quarter earnings skyrocketed, helped in part by a sizable income tax benefit of $350.7 million. Still, the company saw a 48-percent increase in revenue as it delivered more homes and increased its order backlog.

Toll Brothers caters to affluent buyers in the Northeast and Mid-Atlantic, and reported net signed contracts of $684.1 million in net signed contracts and 1,098 units—a 75-percent increase in dollars and 70-percent increase in units compared to the same period in 2011. Analysts had watched the builder after Sandy since 60 percent of its business is in the Northeast. Cancellation rates, however, were only 4.6 percent.

“Pent-up demand, rising home prices, low interest rates, and improving consumer confidence motivated buyers to return to the housing market in FY2012,” Chief Executive Douglas C. Yearley Jr. said in a statement. “As household formations accelerated and unsold home inventories dropped to record lows, the industry took further steps toward a sustained housing recovery.”

Toll Brothers’ fiscal fourth-quarter profits totaled $411.4 million—$2.35 a share. Revenue exceeded Thomson Reuters’ forecasts of $566.7 million, posting at $632.8 million, a 48-percent increase. The average price of delivered homes was $582,000, compared to $565,000 one year ago. Toll Brothers anticipates delivering between 3,600 and 4,400 homes in 2013, averaging between $595,000 and $630,000 in cost.

Samantha Lile

Samantha Lile is a 2002 Missouri State University graduate of journalism and mass media. She has served as a reporter and editor for various newspapers throughout her journalism career. She made the leap into writing full-time after working for a major financial institution since 2000.

Because of her banking background, Samantha is knowledgeable in finance reporting, but is also strong in commentaries, personal profiles, youth studies, horticulture, history and entertainment-related works.

Samantha lives in Ozark, Mo. with her husband of nine years, four dogs and two cats.

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