Toro 2011 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 2011 2010 2009
Net sales $1,883,953 $1,690,378 $1,523,447
Cost of sales 1,247,306 1,113,987 1,012,472
Gross profit 636,647 576,391 510,975
Selling, general, and administrative expense 452,160 425,125 395,778
Operating earnings 184,487 151,266 115,197
Interest expense (16,970) (17,113) (17,578)
Other income (expense), net 7,309 7,115 (1,831)
Earnings before income taxes 174,826 141,268 95,788
Provision for income taxes 57,168 48,031 32,951
Net earnings $ 117,658 $ 93,237 $ 62,837
Basic net earnings per share of common stock $ 3.76 $ 2.83 $ 1.76
Diluted net earnings per share of common stock $ 3.70 $ 2.79 $ 1.73
Weighted-average number of shares of common stock outstanding – Basic 31,267 32,982 35,788
Weighted-average number of shares of common stock outstanding – Diluted 31,797 33,437 36,240
The financial statements should be read in conjunction with the Notes to Consolidated Financial Statements.
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