Husqvarna Group said yesterday that its first quarter net sales amounted to SEK 9.214 billion (approx. U.S. $1.363 billion), compared to net sales of SEK 9.338 billion (approx. $1.381 billion) in the previous year. Income for the period was SEK 613 million (approx. $91 million), compared to SEK 546 million (approx. $81 million) in the previous year.
Husqvarna (Stockholm, Sweden) blamed the 1-percent decline in net sales on its Consumer Products business in North America, while net sales for Professional Products increased over the previous year. After adjusting for exchange rate fluctuations, net sales increased by 6 percent, the company said, mostly from a substantial increase for Professional Products.
Q1 results include Klippo AB, the Swedish gas lawn mower OEM that Husqvarna acquired in January of this year. Gardena AG, acquired at the end of March, was not included n first-quarter 2007 results. At the beginning of April 2007, Husqvarna completed the acquisition of the outdoor products operation within Komatsu Zenoah. The operation will be consolidated in Husqvarna Group accounts within Professional Products as of April 2007.
At the end of February 2007 the group acquired King Concepts in Australia, which manufactures equipment and consumables for floor preparation and concrete polishing. Husqvarna did not specify if this acquisition was included in Q1 results.
to Daily News