Toro reports fiscal 2008 results
The company also reported net sales of $1.8 billion for the full year of fiscal 2008, compared with the net sales of $1.87 billion in the previous year. The company's results for fiscal 2008 were reduced by a pre-tax charge of $4.7 million, or $0.08 per share on an after-tax basis, taken in its fiscal fourth quarter to account for workforce adjustments. In fiscal 2007, the company posted net earnings of $142.4 million, or $3.40 per share, on net sales of $1,876.9 million.For the fourth quarter ended October 31, 2008, Toro reported breakeven net earnings on net sales of $341.2 million. Net earnings in the company's fourth quarter were reduced by the charge noted above. In the comparable fiscal 2007 period, the company reported net earnings of $6.5 million, or $0.16 per share, on net sales of $332.5 million.