Toro earnings flat for Q4; guidance lowered for 2009

Toro Co. posted net earnings of $13,000 for the fiscal fourth quarter, almost a 100% drop from the $6.5 million reported for the same period last year. While fourth-quarter sales were up 2.6%, the company booked a one-time charge of $4.7 million for costs resulting from early retirements. Toro also lowered its guidance for 2009 and predicted that sales will drop 5%.

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Star Tribune (Minneapolis-St. Paul, Minn.) · American City Business Journals · Forbes

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