Toro 2011 Annual Report Download - page 16

programs in the U.S. and Canada. These programs, offered pri- Forward-Looking Statements
marily to Toro and Exmark dealers, provide end-user customers This Annual Report on Form 10-K contains, or incorporates by
revolving and installment lines of credit for Toro and Exmark prod- reference, not only historical information, but also forward-looking
ucts, parts, and services. statements within the meaning of Section 27A of the Securities Act
of 1933, as amended (‘‘Securities Act’’), and Section 21E of the
Distributor Financing. Occasionally, we enter into long-term Exchange Act, and that are subject to the safe harbor created by
loan agreements with some distributors. These transactions are those sections. In addition, we or others on our behalf may make
used for expansion of the distributors’ businesses, acquisitions, forward-looking statements from time to time in oral presentations,
refinancing working capital agreements, or ownership transitions. including telephone conferences and/or web casts open to the
As of October 31, 2011, we had outstanding notes receivable from public, in press releases or reports, on our web sites or otherwise.
two distribution companies in the aggregate amount of $2.4 million. Statements that are not historical are forward-looking and reflect
expectations and assumptions. We try to identify forward-looking
Employees statements in this report and elsewhere by using words such as
During fiscal 2011, we employed an average of 4,797 employees. ‘‘expect,’’ ‘‘strive,’’ ‘‘looking ahead,’’ ‘‘outlook,’’ ‘‘forecast,’’ ‘‘optimis-
The total number of employees as of October 31, 2011 was 4,618. tic,’’ ‘‘anticipate,’’ ‘‘continue,’’ ‘‘plan,’’ ‘‘estimate,’’ ‘‘believe,’’
We consider our employee relations to be good. Three collective ‘‘should,’’ ‘‘could,’’ ‘‘will,’’ ‘‘would,’’ ‘‘possible,’’ ‘‘may,’’ ‘‘likely,’’
bargaining agreements cover approximately 20 percent of these ‘‘intend,’’ and similar expressions or future dates. Our forward-look-
employees. These three agreements expire in October 2013, May ing statements generally relate to our future performance, including
2014, and October 2014. From time to time, we also retain tempo- our anticipated operating results, liquidity requirements, and finan-
rary and part-time workers, independent contractors, and cial condition; our business strategies and goals; and the effect of
consultants. laws, rules, regulations, new accounting pronouncements, and out-
standing litigation on our business and future performance.
Available Information Forward-looking statements involve risks and uncertainties.
We are a U.S. public reporting company under the Securities
These risks and uncertainties include factors that affect all busi-
Exchange Act of 1934, as amended (‘‘Exchange Act’’), and file
nesses operating in a global market as well as matters specific to
reports, proxy statements, and other information with the Securities
Toro. The most significant factors known to us that could materially
and Exchange Commission (‘‘SEC’’). Copies of these reports,
adversely affect our business, operations, industry, financial posi-
proxy statements, and other information can be inspected and cop-
tion, or future financial performance are described below in Part I,
ied at the SEC’s Public Reference Room at 100 F Street N.E.,
Item 1A,’’Risk Factors.’’ We wish to caution readers not to place
Washington, D.C. 20549. You may obtain information on the oper-
undue reliance on any forward-looking statement which speaks
ation of the Public Reference Room by calling the SEC at
only as of the date made and to recognize that forward-looking
1-800-SEC-0330. Because we make filings to the SEC electroni-
statements are predictions of future results, which may not occur
cally, you may also access this information from the SEC’s home
as anticipated. Actual results could differ materially from those
page on the Internet at http://www.sec.gov.
anticipated in the forward-looking statements and from historical
We make available, free of charge on our web site
results, due to the risks and uncertainties described elsewhere in
www.thetorocompany.com (select the ‘‘Investor Information’’ link
this report, including in Part I, Item 1A, ‘‘Risk Factors,’’ as well as
and then the ‘‘Financials’’ link), our Annual Reports on Form 10-K,
others that we may consider immaterial or do not anticipate at this
Quarterly Reports on Form 10-Q, Current Reports on Form 8-K,
time. The risks and uncertainties described in this report, including
Proxy Statements on Schedule 14A, Section 16 reports, amend-
in Part I, Item 1A, ‘‘Risk Factors,’’ are not exclusive and further
ments to those reports, and other documents filed or furnished
information concerning our company and our businesses, including
pursuant to Section 13(a) or 15(d) of the Exchange Act as soon as
factors that potentially could materially affect our operating results
reasonably practicable after we electronically file such material
or financial condition, may emerge from time to time.
with, or furnish it to, the SEC. The information contained on our
We assume no obligation to update forward-looking statements
web site or connected to our web site is not incorporated by refer-
to reflect actual results or changes in factors or assumptions
ence into this Annual Report on Form 10-K and should not be
affecting such forward-looking statements. We advise you, how-
considered part of this report.
ever, to consult any further disclosures we make on related sub-
jects in our future Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K that we file with or furnish to the SEC.
10