Exhibit 11
THE TORO COMPANY AND SUBSIDIARIES
COMPUTATION OF EARNINGS (LOSS) PER SHARE OF COMMON STOCK (UNAUDITED)
(DOLLARS IN THOUSANDS, EXCEPT PER-SHARE DATA)
Three Months Ended Nine Months Ended
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July 31, August 1, July 31, August 1,
1998 1997 1998 1997
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Net earnings (loss) before extraordinary loss ........ $ (2,553) $ 9,949 $ 16,439 $ 31,480
Extraordinary loss, net of income tax benefit of
$1,087 ........................................ - (1,663) - (1,663)
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Net earnings (loss) .................................. $ (2,553) $ 8,286 $ 16,439 $ 29,817
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Basic:
Weighted average number of common shares
outstanding ............................... 12,854,127 12,078,431 12,845,073 12,079,763
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Net earnings (loss) per share of common
stock before extraordinary loss .............. $ (0.20) $ 0.82 $ 1.28 $ 2.60
Extraordinary loss, net of income tax benefit.. - (0.13) - (0.13)
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Net earnings (loss) per share of common
stock ........................................ $ (0.20) $ 0.69 $ 1.28 $ 2.47
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Diluted:
Shares of common stock and common
stock equivalents:
Weighted average number of common shares
outstanding ............................... 12,854,127 12,078,431 12,845,073 12,079,763
Dilutive effect of outstanding
stock options ............................. - 342,662 456,763 368,049
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12,854,127 12,421,093 13,301,836 12,447,812
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Net earnings (loss) per share of common
stock and common stock equivalents
before extraordinary loss .................... $ (0.20) $ 0.80 $ 1.24 $ 2.53
Extraordinary loss, net of income tax benefit.. - (0.13) - (0.13)
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Net earnings (loss) per share of common
stock and common stock equivalents ........... $ (0.20) $ 0.67 $ 1.24 $ 2.40
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