Toro 2011 Annual Report Download - page 69

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value of long-term debt with fixed interest rates was $227,388
compared to its carrying amount of $227,190. The fair value is
estimated by discounting the projected cash flows using the rate at 16 QUARTERLY FINANCIAL DATA (unaudited)
which similar amounts of debt could currently be borrowed.
Summarized quarterly financial data for fiscal 2011 and 2010 are
as follows:
15 SUBSEQUENT EVENTS Fiscal year ended
October 31, 2011
The company evaluated all subsequent events and concluded that Quarter First Second Third Fourth
no subsequent events have occurred that would require recognition Net sales $383,213 $631,601 $501,045 $368,094
in the financial statements or disclosure in the notes to the finan- Gross profit 136,645 213,554 167,661 118,787
Net earnings 17,282 60,250 35,091 5,035
cial statements.
Basic net earnings per share
1
0.54 1.92 1.13 0.16
Diluted net earnings per share
1
0.53 1.88 1.11 0.16
Fiscal year ended
October 31, 2010
Quarter First Second Third Fourth
Net sales $331,358 $562,819 $458,890 $337,311
Gross profit 116,391 187,412 161,633 110,955
Net earnings 10,918 45,661 33,414 3,244
Basic net earnings per share
1
0.32 1.35 1.03 0.10
Diluted net earnings per share
1
0.32 1.34 1.01 0.10
1
Net earnings per share amounts do not sum to equal full year total due to
changes in the number of shares outstanding during the periods and rounding.
63