Toro Q4 Earnings, Sales Rise; Top Estimates

(RTTNews) - The Toro Company (TTC), a maker of turf maintenance equipment, Thursday reported increased profit on higher sales. Both earnings and sales beat the Street expectations. Net profit for the three-month period rose to $10.9 million or $0.19 per share, from $4.9 million or $0.08 per share in the previous year. On average, four analysts polled by Thomson-Reuters estimated earnings to be $0.15 per share. Analysts' estimates typically exclude one-time items.

Toro's sales for the 3 months grew to $414.14 million from last year's $382.37 million. Analysts projected sales to be $409.9 million.

Looking ahead, the company expects earnings of about $0.47 per share for the first quarter of 2015, and sees full-year earnings at $3.30 - $.3.40 per share, on sales growth of 8 to 10 percent.

Analysts expect first quarter earnings to be $0.54 per share and full-year earnings of $3.43 per share, on revenues of $2.35 billion.