Exhibit 11
THE TORO COMPANY AND SUBSIDIARIES
COMPUTATION OF EARNINGS (LOSS) PER COMMON SHARE
(DOLLARS IN THOUSANDS, EXCEPT PER-SHARE DATA)
Three Months Ended
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October 28, October 29,
1994 1993
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Net earnings (loss). . . . . . . . . . . . . . . . . . .$ 8,302 $ (1,894)
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Primary:
Shares of common stock and common
stock equivalents:
Weighted average number of common shares
outstanding . . . . . . . . . . . . . . . .12,585,681 12,299,190
Dilutive effect of outstanding
stock options (1), (3). . . . . . . . . . . 453,494 -
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13,039,175 12,299,190
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Net earnings (loss) per share of common stock
and common stock equivalent . . . . . . . . . .$ 0.64 $ (0.15)
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Fully Diluted:
Shares of common stock and common
stock equivalents:
Weighted average number of common shares
outstanding . . . . . . . . . . . . . . . .12,585,681 12,299,190
Dilutive effect of outstanding
stock options (2), (3). . . . . . . . . . . 556,272 -
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13,141,953 12,299,190
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Net earnings (loss) per share of common stock
and common stock equivalent . . . . . . . . . .$ 0.63 $ (0.15)
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<FN>
1) Outstanding stock options and options exercised in the current period are
converted to common stock equivalents by the treasury stock method using
the average market price of the Company's stock during each period.
2) Outstanding stock options and options exercised in the current period are
converted to common stock equivalents by the treasury stock method using
the greater of the average market price or the period-end market price of
the Company's stock during each period.
3) Loss per share calculations are based on weighted average common shares
outstanding excluding common stock equivalents due to their anti-dilutive
affect.
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