Residential Segment

According to Toro, residential segment net sales for fiscal 2008 were essentially flat with fiscal 2007 at $563.9 million. Strong orders for snowthrowers and international sales growth in most residential categories offset declines in domestic shipments for walk power mowers. For the fiscal 2008 fourth quarter, residential segment net sales gained 21.2 percent to $122.2 million. The improvement resulted primarily from increased sales of snowthrowers and walk power mowers due to strong fall demand.

Residential segment earnings for fiscal 2008 were $33.9 million, down 19.1 percent compared with the same period last year. For the fiscal 2008 fourth quarter, residential segment earnings totaled $6.5 million, compared with $1.5 million in the prior year period.

Professional Segment

Professional segment net sales for fiscal 2008 increased one percent to $1.28 billion. For the year, the company saw strong worldwide demand for golf equipment and irrigation systems from the successful introduction, and increased shipments of micro irrigation products in Europe and Australia. Additionally, incremental sales from the acquisitions of Rain Master???????(R)???????+???? and Turf Guard?EUR??,,????'?????<