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Toro Beats Expectations

BLOOMINGTON, Minn., - Toro Company reported record sales and profitability for fiscal 2000 ending October 31, 2000, beating analyst expectations for the year, with dilutive earnings per share of $3.47, compared to $2.64 after restructuring and other unusual expenses for 1999, an increase of 31.4 percent. Net income for fiscal 2000 increased 29.2 percent to $45.3 million, compared to $35.1 million in fiscal 1999 after restructuring and other unusual expenses. Net sales for the period were $1.337 billion, an increase of 4.9 percent over fiscal 1999 sales of $1.275 billion.

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