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TORO CO. Bloomington, Minnesota Manufacturer Mows Down Market Hurdles.(THE NEW AMERICA)
Byline: KIRK SHINKLE
During a recession, lawn equipment maker Toro Co. usually looks for greener grass on the other side of the recovery.
That's not the case today. Despite the ailing economy, the company has seen surprising strength in sales of its core professional-grade mowers. New partnerships for its retail lines have also bolstered business.
Meanwhile, a tighter focus on operations has kept the bottom line healthy. Toro earned 12 cents a share during the fiscal first quarter ended in December. That was up 71% from the prior year.
It marked the fourth straight quarter of profit growth -- a good sign, considering past recessions usually resulted in red ink.
The bottom-line gain came despite the fact that overall sales during the quarter slipped 0.9% from the prior year to $277.9 million.
Most lawn aficionados are probably familiar with Toro's signature red machines because they use them in their own back yards.
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