The Toro Company reported net earnings of $62.8 million, or $1.60 per share, on net sales of $638.5 million for its fiscal second quarter ended May 2, 2008. In the comparable fiscal 2007 period, the company reported net earnings of $75.0 million, or $1.77 per share, on net sales of $686.7 million.
For the year to date, Toro reported net earnings of $81.4 million, or $2.07 per share, on net sales of $1,044.3 million. In the first half of fiscal 2007, the company reported net earnings of $93.4 million, or $2.21 per share, on net sales of $1,065.7 million. Professional segment net sales for the fiscal 2008 second quarter decreased 4% to $429.9 million. Sales declined in nearly all product categories domestically, but increased modestly in most categories outside the United States. Residential segment net sales declined 11.8% to $201.3 million.