The Toro Company of Bloomington, Minnesota is starting the year off well, reporting net sales of $486.4 million for its first quarter ending on January 29, 2016, an increase of 2.6 percent over last year's numbers.
The Toro Company's CEO, Michael Hoffman, credits the company's growth to a strong demand for landscape contractor equipment and golf irrigation products. "We are excited about our new product lineup across our businesses for fiscal 2016. Most recently, our new golf equipment and irrigation products received a positive reception at the Golf Industry Show in San Diego, California. New products such as the Workman® light-duty vehicle and the enhanced product offerings for our INFINITY® Series golf sprinkler were well received by those attending the show. We were also pleased by the excitement surrounding our new product offerings at the 2016 Sports Turf Managers Show that also took place in San Diego, California."
Toro expects revenue growth for 2016 to be about 4 percent.
Source: Toro Co.