Exhibit 11
THE TORO COMPANY AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER COMMON SHARE (UNAUDITED)
(DOLLARS IN THOUSANDS, EXCEPT PER-SHARE DATA)
Three Months Ended Six Months Ended
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February 3, January 28, February 3, January 28,
1995 1994 1995 1994
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Net earnings . . . . . . . . . . . . $ 6,799 $ 4,477 $ 15,101 $ 2,582
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Primary:
Shares of common stock and
common stock equivalents:
Weighted average
number of common
shares outstanding . . . . . 12,748,891 12,414,115 12,670,796 12,368,710
Dilutive effect of outstanding
stock options (1). . . . . . 505,812 551,840 481,057 539,633
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13,254,703 12,965,955 13,151,853 12,908,343
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Net earnings per share of
common stock and common
stock equivalent . . . . . . $ 0.51 $ 0.35 $ 1.15 $ 0.20
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Fully Diluted:
Shares of common stock and common
stock equivalents:
Weighted average number
of common shares
outstanding . . . . . . . . 12,748,891 12,414,115 12,670,796 12,368,710
Dilutive effect of outstanding
stock options (2) . . . . . 519,207 565,762 542,683 585,798
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13,268,098 12,979,877 13,213,479 12,954,508
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Net earnings per share of
common stock and common
stock equivalent . . . . . $ 0.51 $ 0.35 $ 1.14 $ 0.20
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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.
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