Exhibit 11
THE TORO COMPANY AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER COMMON SHARE
(DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA)
Three Months Ended
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October 31, October 28,
1995 1994
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Net earnings . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,997 $ 8,302
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Primary:
Shares of common stock and common
stock equivalents:
Weighted average number of common shares
outstanding . . . . . . . . . . . . . . . . . . 12,117,815 12,585,681
Dilutive effect of outstanding
stock options (1) . . . . . . . . . . . . . . . 424,225 453,494
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12,542,040 13,039,175
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Net earnings per share of common stock
and common stock equivalent . . . . . . . . . . . . $ 0.32 $ 0.64
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Fully Diluted:
Shares of common stock and common
stock equivalents:
Weighted average number of common shares
outstanding . . . . . . . . . . . . . . . . . . 12,117,815 12,585,681
Dilutive effect of outstanding
stock options (2) . . . . . . . . . . . . . . . 424,225 556,272
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12,542,040 13,141,953
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Net earnings per share of common stock
and common stock equivalent . . . . . . . . . . . . $ 0.32 $ 0.63
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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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