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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May 1, May 2, May 1, May 2,
1998 1997 1998 1997
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Net earnings . . . . . . . . . . . . . . . . . . . . . . . . $ 20,053 $ 19,040 $ 18,992 $ 21,531
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Basic:
Weighted average number of common shares
outstanding . . . . . . . . . . . . . . . . . . . . . 12,836,019 12,075,340 12,736,213 12,080,429
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Net earnings per share of common stock. . . . . . . . $ 1.56 $ 1.58 $ 1.49 $ 1.78
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Diluted:
Shares of common stock and common
stock equivalents:
Weighted average number of common shares
outstanding. . . . . . . . . . . . . . . . . . . . 12,836,019 12,075,340 12,736,213 12,080,429
Dilutive effect of outstanding
stock options. . . . . . . . . . . . . . . . . . . 312,582 361,208 345,837 381,289
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13,148,601 12,436,548 13,082,050 12,461,718
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Net earnings per share of common stock
and common stock equivalent . . . . . . . . . . . $ 1.53 $ 1.53 $ 1.45 $ 1.73
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