Husqvarna AB (Stockholm), one of the world largest makers of outdoor power equipment, had third quarter net sales of SEK 5,841 million (approx. US$875 million), compared to SEK 6,410 million in the third quarter of the previous year. After adjusting for exchange rate effects, net sales were down 8%.
Operating income was up 61% to SEK 182 million, up from SEK 113 million in the same period in the previous year.
In the first nine months of the year, net sales were SEK 26,358 million (approx. $3,949 million), up from SEK 25,363 million. After adjusting for exchange rates, net sales were up 1%.
“Demand in our two largest markets continued to be challenging during the third quarter," noted Hans Linnarson, president and CEO of Husqvarna. "In North America, sales were negatively impacted by the worst drought conditions for many years. In Europe, demand was adversely affected by a cautious consumer sentiment and continued unfavorable weather conditions. As expected, preseason demand for seasonal products such as snow throwers was soft."
Linnarson said the Americas reporting better results while sales and income for Europe & Asia/Pacific were down.
to Daily News