WASHINGTON (dpa-AFX) - The Toro Company (TTC) reported first-quarter net income of $30.95 million or $0.54 per share, compared to $25.87 million or $0.44 per share, prior year.
On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.49 for the quarter. Analysts' estimates typically exclude special items.
Net sales increased to $474.21 million from $445.98 million last year. Analysts expected revenue of $485.80 million for the quarter.
The company continues to expect revenue growth for fiscal 2015 to be about 8 to 10 percent, and now expects net earnings per share to be about $3.35 to $3.45. Analysts expect the company to report fiscal 2015 earnings per share of $3.43.
For the second quarter, the company expects net earnings per share to be about $1.58 to $1.63. Analysts expect the company to report second-quarter earnings per share of $1.65.
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