"HORSHAM, Pa. (AP) -- Toll Brothers Inc. posted a surprise profit for its fiscal first quarter, helped by a larger tax benefit and a higher average price for its homes.

The nation's largest builder of luxury homes said that while the market "is still tough," it sees improvements "in many places."

Toll Brothers had net income of $3.4 million, or 2 cents per share, for the quarter ended Jan. 31. That compares with a loss of $40.8 million, or 25 cents per share, a year earlier.

Analysts surveyed by FactSet forecast a loss of 8 cents per share.

The quarter included a $20.4 million tax benefit compared with a $16 million tax benefit a year ago.

*Without EXTRA $4.4 MILLION "tax benefit" compared to prior year they lose money
Revenue climbed 2 percent to $334."