Husqvarna, one of the world's biggest makers of outdoor power equipment, said fourth quarter net sales increased to SEK 4,794 million (approx. US$748 million), up slightly from SEK 4,732 million in last year's fourth quarter. The company reported an operating loss of SEK 63 million (approx. $9.8 million), an improvement from a loss of SEK 515 million in the same quarter a year ago.
In full-year 2010, net sales were SEK 32,240 (approx. $5,032 million) down from SEK 34,074 million 2009. Adjusted for comparability, the company said the change was 0%.
Operating income increased 57% to SEK 2,445 million (approx. $382 million), compared to SEK 1,560 million in the previous year.
"Demand recovered during the year and we strengthened our market positions for outdoor products in Europe and for Construction," said President and CEO Magnus Yngen. "After several years of decline, demand recovered also in the US. Despite the recovery, sales and profitability in the region were weak as we had significantly lower listings."
Yngen added: "We expect higher shipments to the trade in the first quarter of 2011, compared with the first quarter of 2010, due to improved listings and a continued focus on dealer sales. We also expect a continued recovery of end-user demand for forest, park and garden products as well as for construction products. Due to the strong SEK, we expect negative currency effects in 2011."
to Daily News