Toro 2008 Annual Report Download - page 2

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$2,000
08
$1,878.2
07060504
Net Sales
(Dollars in millions)
0
30
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$150
08
$119.7
07060504
Net Earnings
(Dollars in millions)
0
2
4
6
8%
08
6.4%
07060504
After-Tax Return on Net Sales
Financial Highlights
Fiscal years ended October 31
(Dollars in millions, except per share data)
For the Fiscal Year 2008 2007 % Change
Net sales $1,878.2 $1,876.9 0.1%
Net earnings 119.7 142.4 (16.0)
Net earnings as a percentage of net sales 6.4% 7.6%
Diluted net earnings per share of common stock $ 3.10 $ 3.40 (8.8)
Cash dividends paid per share of common stock outstanding 0.60 0.48 25.0
Return on average stockholders’ equity 32.6% 37.4%
At Fiscal Year End
Net working capital* $ 370.3 $ 443.4 (16.5)%
Total assets 932.3 950.8 (2.0)
Total debt 233.1 229.6 1.5
Stockholders’ equity 364.7 370.4 (1.6)
Debt-to-capitalization ratio 39.0% 38.3%
*Defi ned as receivables plus inventory, less trade payables
At The Toro Company (NYSE: TTC) we take pride in our
responsibility to employees, customers, shareholders and the
environment. Since 1914, we have cultivated our reputation
around enduring relationships and constant innovation to
help customers better anticipate the future. At the same time,
we are building on a tradition of excellence around a number
of strong brands to help customers care for golf courses,
sports fi elds, public green spaces, commercial and residential
grounds, and agricultural fi elds. Over the years, we have
strengthened our position as a leading worldwide provider of
turf and landscape maintenance equipment, and precision
irrigation systems due in large part to a strong network of
professional distributors, dealers and retailers in more than
140 countries around the world.
On the cover: Toro equipment helps maintain the rolling greens,
pristine fairways, and challenging roughs at Fuji Classic — a
beautiful test of golf in Yamanashi, Japan.