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Toro Shares Gain Following 2007 Earnings Guidance

Lawn mower maker Toro issued fiscal second-quarter guidance on Tuesday below current Wall Street estimates but reaffirmed its full-year 2007 earnings outlook.

The company said it will report earnings between $1.65 per share and $1.69 a share in its second quarter.

Analysts polled by Thomson Financial are looking for second quarter profit of $1.72 a share.

Toro stuck with its full-year guidance, saying earnings per share will rise 10% to 12% and its revenue will grow 5% to 6%.

For the company to meet its projections, it will have to earn between $3.20 and $3.26 a share for the year. Analysts are looking for net income of $3.26 a share.

The projected revenue increase would be $346 million to $349.3 million.