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The Boston Globe

Business

  

MARKET MOVERS

Mild weather puts a crimp in Toro sales

Toro’s annual snowthrower sales fell almost 50 percent.

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Toro’s annual snowthrower sales fell almost 50 percent.

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For some, mild weather is a blessing. But for Toro Co., it hurt sales. The Minnesota company, which makes landscaping equipment, said fourth-quarter net income fell on weak preseason demand for snowthrowers. It earned $129.5 million, or $2.14 per share, for its fiscal year. A year ago, it earned $117.7 million, or $1.85 per share. Fourth-quarter earnings were about $300,000, on a net sales decrease of 7.8 percent. A year ago, it earned $5 million, or about 8 cents per share.

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