Content about Michael Hoffman

October 28, 2014

The Toro Company has agreed to acquire the BOSS professional snow and ice management business of Northern Star Industries, Inc. for $227 million.

According to Toro chairman and CEO Michael Hoffman, the deal strengthens Toro's stake in the professional contractor market owing to BOSS's high-quality equipment and service.

August 21, 2014

The Toro Company declared that it was well on its way to meeting its previously stated 2014 goals upon the release of its third-quarter earnings report Thursday.

Sales for the quarter were up 11.3% year-over-year to what Toro referred to as a "record $567.5 million," riding a wave of strong retail demand across its various segments.

Net earnings of $50.0 million were also up in comparison to last year's $40.1 million.

May 22, 2014

The Toro Company made solid progress in the second fiscal quarter of 2014, with net sales up 5.8% and earnings pushing ahead 11.1%.

Total sales for the three-month period ended May 2, 2014 were $745.0 million, up from $704.5 million a year ago. Sales for the six-month period were also up 3.6%.

Meanwhile, net earnings came in at $87.1 million for the quarter, compared to $78.4 million in 2013. 

December 6, 2012

Bloomington, Minn.-based The Toro Co. reported net earnings of $129.5 million for the full year ended Oct. 31, up from earnings of $117.7 million in 2011. 

Net sales increased 4% to $1.96 billion for its fiscal year. 

For the fourth quarter, Toro reported net earnings of $0.3 million, down from $5 million in the fourth quarter of 2011. Net sales decreased 7.8% to $339.3 million in the quarter. 

December 6, 2011

Bloomington, Minn.-based Toro Co. posted record sales in 2011, including a 5.8% sales gain in the company's residential segment. 

“Fiscal 2011 was a very good year for the Toro Co., delivering record revenues and earnings per share,” said Michael Hoffman, Toro’s chairman and CEO.

For the year, the company's total earnings were up 26.3% to $117.7 million, and net sales were up 11.5% to $1.884 billion. In the fourth quarter, net earnings increased from $3.2 million to $5 million, as net sales increased 9.1% to $337.3 million.

August 18, 2011

Bloomington, Minn.-based Toro has posted third-quarter net earnings of $35.1 million, up 5% from net earnings of $33.4 million in the prior-year period.

Net sales for the quarter ended July 29 totaled $501 million, up 9% from net sales of $458.9 million in the third quarter of 2010.

August 26, 2007

The company’s professional business saw earnings up 13.5 percent, while earnings fell in residential sales....