Landscape Architect Articles

Briggs and Stratton Reports Quarterly Loss10-18-07 | News

Briggs and Stratton Reports Quarterly Loss

Milwaukee ?EUR??,,????'??+ Briggs & Stratton Corporation has announced first quarter consolidated net sales of $366.7 million and a net loss of $20.5 million or $.41 per diluted share. Consolidated net sales increased $28.4 million or eight percent from the prior year while the net loss increased $4 million from the same period a year ago.

The company said the consolidated net sales increase was the result of increased engine unit volume to external original equipment manufacturers and stronger shipments of lawn and garden equipment to independent dealers. The increase in the net loss is primarily the result of expenses associated with the previously announced shutdown of the company?EUR??,,????'???s Rolla, Missouri engine manufacturing plant and expenses associated with opening a new lawn equipment plant in Newbern, Tennessee.

During the company?EUR??,,????'???s fiscal 2008 first quarter, net sales for engines were $208.4 million, an $18.8 million or 10 percent improvement from the prior year. This increase reflects five percent greater engine unit shipments compared to the same period a year ago.

The company?EUR??,,????'???s power products division saw first quarter net sales of $187 million, basically the same as a year ago. While total segment net sales were consistent between years, shipments of lawn and garden equipment were approximately 12 percent greater than the prior year due to increased orders from dealers needing to replenish inventories due to demand during the summer months. Sales of portable generators were down approximately 47 percent from the same period a year ago.