Toro 2010 Annual Report Download - page 46

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CONSOLIDATED STATEMENTS OF EARNINGS
(Dollars and shares in thousands, except per share data) Fiscal years ended October 31 2010 2009 2008
Net sales $1,690,378 $1,523,447 $1,878,184
Cost of sales 1,113,987 1,012,472 1,225,474
Gross profit 576,391 510,975 652,710
Selling, general, and administrative expense 425,125 395,778 454,301
Earnings from operations 151,266 115,197 198,409
Interest expense (17,113) (17,578) (19,333)
Other income (expense), net 7,115 (1,831) 2,213
Earnings before income taxes 141,268 95,788 181,289
Provision for income taxes 48,031 32,951 61,638
Net earnings $ 93,237 $ 62,837 $ 119,651
Basic net earnings per share of common stock $ 2.83 $ 1.76 $ 3.17
Diluted net earnings per share of common stock $ 2.79 $ 1.73 $ 3.10
Weighted-average number of shares of common stock outstanding – Basic 32,982 35,788 37,736
Weighted-average number of shares of common stock outstanding – Diluted 33,437 36,240 38,579
The financial statements should be read in conjunction with the Notes to Consolidated Financial Statements.
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