* Q1 EPS $0.32 vs $0.18 year ago
* Q1 revenue falls about 3 pct
* Sees Q2 EPS about $1.15 vs est $1.14
Feb 18 Irrigation equipment maker Toro Co
(TTC.N) posted a 62 percent jump in its quarterly profit,
helped by increase in sales at its residential segment.
For the second quarter, the company expects earnings of
about $1.15 per share, while analysts were expecting $1.14 a
share, according to Thomson Reuters I/B/E/S.
"Given our leaner cost structure, and continued focus on
innovation and asset management, we believe we are well
positioned to benefit from a recovery in retail demand as our
markets improve," the company said in a statement.
For the first quarter ended Jan. 29, the company reported
net income of $10.9 million, or 32 cents a share, compared with
$6.7 million, or 18 cents a share, a year ago.
Revenue for the quarter fell about 3 percent to $331.4
Residential segment sales were up 9 percent at $116.8
million, helped by strong orders of irrigation products in
Australia due to improved weather conditions.
Analysts on average were expecting the company to earn 21
cents a share, before special items, on revenue of $337.2
million, according to Thomson Reuters I/B/E/S.
Shares of the company had closed at $43.41 Wednesday on the
New York Stock Exchange.
(Reporting by Fareha Khan in Bangalore; Editing by Jarshad