Net income for Toll Brothers, the luxury home builder, increased in its fiscal third quarter as it delivered more homes and average sales prices rose. But the company also reported on Wednesday that its new-home contracts declined in the quarter from a year earlier. Toll Brothers said completed sales vaulted 36 percent from the previous year, to 1,444 homes, while signed contracts fell 6 percent, to 1,324 homes. In a statement, the company's chief executive, Douglas Yearley, noted that pent-up demand "has yet to be unleashed," but added that he still believed housing was recovering. Toll reported net income of $97.7 million, or 53 cents a share, for the three months ended July 31, compared with $46.6 million, or 26 cents a share, in the period in the previous year. Revenue jumped 53 percent, to $1.06 billion from $689.2 million. Analysts surveyed by FactSet estimated earnings of 45 cents a share and revenue of $981.7 million.
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