Toro 2009 Annual Report Download - page 47

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CONSOLIDATED STATEMENTS OF EARNINGS
(Dollars and shares in thousands, except per share data) Fiscal years ended October 31 2009 2008 2007
Net sales $1,523,447 $1,878,184 $1,876,904
Cost of sales 1,012,472 1,225,474 1,198,529
Gross profit 510,975 652,710 678,375
Selling, general, and administrative expense 395,778 454,301 454,726
Earnings from operations 115,197 198,409 223,649
Interest expense (17,578) (19,333) (19,445)
Other (expense) income, net (1,831) 2,213 9,023
Earnings before income taxes 95,788 181,289 213,227
Provision for income taxes 32,951 61,638 70,791
Net earnings $ 62,837 $ 119,651 $ 142,436
Basic net earnings per share of common stock $ 1.76 $ 3.17 $ 3.50
Diluted net earnings per share of common stock $ 1.73 $ 3.10 $ 3.40
Weighted-average number of shares of common stock outstanding – Basic 35,788 37,736 40,682
Weighted-average number of shares of common stock outstanding – Diluted 36,240 38,579 41,864
The financial statements should be read in conjunction with the Notes to Consolidated Financial Statements.
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