Toro 2014 Annual Report Download - page 18

Forward-looking statements involve risks and uncertainties that
Available Information
could cause actual results to differ materially from those projected
We are a U.S. public reporting company under the Securities
or implied. The most significant factors known to us that could
Exchange Act of 1934, as amended (‘‘Exchange Act’’), and file
materially adversely affect our business, operations, industry, finan-
reports, proxy statements, and other information with the Securities
cial position, or future financial performance are described below in
and Exchange Commission (‘‘SEC’’). Copies of these reports,
Part I, Item 1A, ‘‘Risk Factors.’’ We caution readers not to place
proxy statements, and other information can be inspected and cop-
undue reliance on any forward-looking statement which speaks
ied at the SEC’s Public Reference Room at 100 F Street N.E.,
only as of the date made and to recognize that forward-looking
Washington, D.C. 20549. You may obtain information on the oper-
statements are predictions of future results, which may not occur
ation of the Public Reference Room by calling the SEC at
as anticipated. Actual results could differ materially from those
1-800-SEC-0330. Because we make filings to the SEC electroni-
anticipated in the forward-looking statements and from historical
cally, you may also access this information from the SEC’s home
results, due to the risks and uncertainties described elsewhere in
page on the Internet at http://www.sec.gov.
this report, including in Part I, Item 1A, ‘‘Risk Factors,’’ as well as
We make available, free of charge on our web site
others that we may consider immaterial or do not anticipate at this
www.thetorocompany.com (select the ‘‘Investor Information’’ link
time. The risks and uncertainties described in this report, including
and then the ‘‘Financials’’ link), our Annual Reports on Form 10-K,
in Part I, Item 1A, ‘‘Risk Factors,’’ are not exclusive and further
Quarterly Reports on Form 10-Q, Current Reports on Form 8-K,
information concerning our company and our businesses, including
Proxy Statements on Schedule 14A, Section 16 reports, amend-
factors that potentially could materially affect our operating results
ments to those reports, and other documents filed or furnished
or financial condition, may emerge from time to time.
pursuant to Section 13(a) or 15(d) of the Exchange Act as soon as
We undertake no obligation to update forward-looking state-
reasonably practicable after we electronically file such material
ments to reflect actual results or changes in factors or assumptions
with, or furnish it to, the SEC. The information contained on our
affecting such forward-looking statements. We advise you, how-
web site or connected to our web site is not incorporated by refer-
ever, to consult any further disclosures we make on related sub-
ence into this Annual Report on Form 10-K and should not be
jects in our future Quarterly Reports on Form 10-Q and Current
considered part of this report.
Reports on Form 8-K that we file with or furnish to the SEC.
Forward-Looking Statements
This Annual Report on Form 10-K contains, or incorporates by ITEM 1A. RISK FACTORS
reference, not only historical information, but also forward-looking
The following are significant factors known to us that could materi-
statements within the meaning of Section 27A of the Securities Act
ally adversely affect our business, reputation, operating results,
of 1933, as amended (‘‘Securities Act’’), and Section 21E of the
financial condition, or future financial performance.
Exchange Act, and that are subject to the safe harbor created by
those sections. In addition, we or others on our behalf may make
If economic conditions and outlook in the United States
forward-looking statements from time to time in oral presentations,
and in other countries in which we conduct business do
including telephone conferences and/or web casts open to the
not continue to improve or if they worsen, our net sales
public, in press releases or reports, on our web sites or otherwise.
and earnings could be adversely affected.
Statements that are not historical are forward-looking and reflect
expectations and assumptions. Forward-looking statements are Economic conditions and outlook in the U.S. and in other countries
based on our current expectations of future events, and often can in which we conduct business can impact demand for our products
be identified in this report and elsewhere by using words such as and, ultimately, our net sales and earnings. These include, but are
‘‘expect,’’ ‘‘strive,’’ ‘‘looking ahead,’’ ‘‘outlook,’’ ‘‘guidance,’’ ‘‘fore- not limited to, recessionary conditions; slow or negative economic
cast,’’ ‘‘goal,’’ ‘‘optimistic,’’ ‘‘anticipate,’’ ‘‘continue,’’ ‘‘plan,’’ ‘‘esti- growth rates; the impact of U.S. federal debt, state debt, and sov-
mate,’’ ‘‘project,’’ ‘‘believe,’’ ‘‘should,’’ ‘‘could,’’ ‘‘can,’’ ‘‘will,’’ ereign debt defaults and austerity measures by certain European
‘‘would,’’ ‘‘possible,’’ ‘‘may,’’ ‘‘likely,’’ ‘‘intend,’’ ‘‘seek,’’ and similar countries; slow down or reductions in levels of golf course develop-
expressions or future dates. Our forward-looking statements gener- ment, renovation, and improvement; golf course closures; reduced
ally relate to our future performance, including our anticipated levels of home ownership, construction, and sales; home foreclo-
operating results, liquidity requirements, and financial condition; our sures; negative consumer confidence; reduced consumer spending
business strategies and goals; and the effect of laws, rules, regula- levels resulting from tax increases or other factors; prolonged high
tions, new accounting pronouncements, and outstanding litigation unemployment rates; higher commodity and components costs and
on our business and future performance. fuel prices; inflationary or deflationary pressures; reduced credit
availability or unfavorable credit terms for our distributors, dealers,
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