In addition to the maker of turf maintenance equipment’s sales falling by a double-digit percentage, the company also predicted its first-quarter and 2010 profit would be lower than what analysts’ predicted.
For the full year, profit sunk 47 percent to $62.8 million, or $1.73 per share, from $119.7 million, or $3.10 per share, last year. Yearly revenue dropped 19 percent to $1.52 billion from $1.88 billion.
Stocks of Toro fell 33 cents to $39.61 in afternoon trading.
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