Toro Reports 4Q Loss Dec 9, 2009

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The Toro Company reported net earnings of US$62.8 million on net sales of $1,523.4 million for its fiscal year ended Oct. 31, 2009. For 4Q 2009, Toro reported a net loss of $0.5 million.

Professional segment net sales for fiscal 2009 totaled $965.9 million, down 25.9% from fiscal 2008.

Residential segment net sales for fiscal 2009 totaled $532.7 million, down 1.9% from fiscal 2008. For the fourth quarter, residential segment net sales were $115.9 million, down 2.8% from the prior year period.

The company currently expects fiscal 2010 net earnings per share to be about $2.00 on comparable revenues with fiscal 2009.

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