Toro 2014 Annual Report Download - page 29

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included the construction of a new corporate facility that was com- and commodity costs, delays in shipments to customers, and
pleted in fiscal 2014, and we plan to renovate our original corpo- increases in insurance premiums;
rate facility located in Bloomington, Minnesota in fiscal 2015 to
•
financial viability of distributors and dealers, changes in distribu-
accommodate expansion needs of our product development and tor ownership, changes in channel distribution of our products,
test capacities. We financed, and expect to continue to finance, relationships with our distribution channel partners, our success
such efforts with cash on hand and cash from operating activities. in partnering with new dealers, and our customers’ ability to pay
The expansion and renovation of our corporate facilities entails amounts owed to us;
risks that could cause disruption in the operations of our business.
•
a decline in retail sales or financial difficulties of our distributors
Such risks include potential interruption in data flow; unforeseen or dealers, which could cause us to repurchase financed prod-
construction, scheduling, engineering, environmental, or geological uct; and
problems; and unanticipated cost increases.
•
the threat of terrorist acts and war, which may result in height-
ened security and higher costs for import and export shipments
Our business is subject to a number of other of components or finished goods, reduced leisure travel, and
miscellaneous risks that may adversely affect our contraction of the U.S. and worldwide economies.
operating results, financial condition, or business.
ITEM 1B. UNRESOLVED STAFF COMMENTS
Other miscellaneous risks that could affect our business include:
•
our ability to achieve the revenue growth, operating earnings, None.
and working capital goals of our ‘‘Destination PRIME’’ initiative;
•
natural or man-made disasters or global pandemics, which may
result in shortages of raw materials and components, higher fuel
23