The Toro Co has announced that earnings for its third quarter have advanced from their position last year.

The company's earnings came in at $79.01 million, or $0.73 per share. This compares with $68.40 million, or $0.61 per share, in last year's third quarter.

Analysts had expected the company to earn $0.66 per share, according to figures compiled by Thomson Reuters.

The company's revenue for the quarter rose 4.4% to $655.82 million from $627.94 million last year.

Richard M. Olson, Toro’s chairman and chief executive officer said in a statement, "As anticipated, we saw strong demand for our walk power and zero-turn mowers as our residential business rebounded nicely after the slow start to spring."

He continued, "The success of new products also helped bolster sales in our landscape contractor businesses, which drove professional segment revenue growth for the quarter. New products like the Exmark Radius, the Toro TITAN HD and the new diesel-powered zero-turn mowers in our landscape contractor businesses, have been well received by customers.

"Looking ahead, both our BOSS Snowplow and residential snow businesses have strong orders in hand and are well positioned for the coming season."