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Toro Second Quarter Earings Up07-01-03 | News
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BLOOMINGTON, Minn. ?EUR??,,????'??? The Toro Company reported net earnings of $42.0 million, or $1.61 per diluted share, on net sales of $495.8 million for its fiscal 2003 second quarter ended May 2, 2003. In the comparable fiscal 2002 period, the company reported net earnings of $38.1 million, or $1.46 per diluted share, on net sales of $470.3 million. The results for the fiscal 2002 period included a tax benefit of $1.8 million, or $0.07 per diluted share. Excluding this tax benefit, the company's fiscal 2002 second quarter adjusted net earnings totaled $36.4 million, or $1.39 per adjusted diluted share. For the six months ended May 2, 2003, Toro reported net earnings of $49.0 million, or $1.89 per diluted share, on net sales of $791.8 million. The first half results include a gain of $0.08 per diluted share resulting from a legal settlement recorded in the fiscal 2003 first quarter.
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