Briggs & Stratton's first quarter fiscal 2011 consolidated net sales were $334.1 million, up $9.5 million or 2.9% from the first quarter of fiscal 2010.
The $9.5 million consolidated net sales increase was credited to increased international engine shipments and improved sales volumes of lawn and garden equipment and snow throwers, offset by lower sales of pressure washers and portable generator products.
In it‚Äôs first quarter, ended Sept. 26, 2010, the company reported a consolidated net loss of $8.1 million, or $0.16 per diluted share, improved from a consolidated net loss of $8.7 million, or $0.18 per diluted share, one year ago.
Net debt outstanding as of Sept. 26, 2010 is down $106.5 million, or 40.5%, from Sept. 27, 2009.
"We are pleased with our fiscal 2011 first quarter results as we move forward executing our strategy despite continued economic uncertainty," commented Todd J. Teske, chairman, president and CEO of Briggs & Stratton Corp. "We improved sales and operating results through a period of continued slow growth in consumer spending. Along with these improved operating results, our balance sheet remains strong as we continue to focus on efficiently managing our capital."
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