Briggs & Stratton Reports Strong Quarterly Sales
Feb 9, 2011
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Outdoor power equipment and engines maker Briggs & Stratton reported second quarter fiscal 2011 consolidated net sales of $450.3 million, up $57.3 million (14.6%) from the second quarter of fiscal 2010. In the first six months of fiscal 2011, consolidated sales were $784.4 million, up $66.8 million (9.3%) from the same period of fiscal 2010.
Briggs & Stratton Corp. said it had a second quarter fiscal 2011 consolidated net loss of $1.3 million, which included $4.6 in charges related to previously announced organization changes and refinancing.
"Our second quarter results yielded sales growth for both our Engine and Power Products Segments," said Todd J. Teske, chairman, president, and CEO of Briggs & Stratton.
The second quarter net sales increase came from higher international engine shipments and from improved lawn and garden and snow thrower product sales, offset by lower portable generator sales.
In the first six months of fiscal 2011, the $66.8 million consolidated net sales increase was due primarily to higher international engine shipments and improved lawn and garden and snow thrower sales volumes, offset by lower sales of pressure washers and portable generators.
In the Power Products Segment fiscal 2011 second quarter net sales were $186.4 million, up $21.5 million (13.0%) over the prior year
period. The improvement came from higher unit shipment volumes of snow throwers, ZTRs (zero turn radius mowers), and pressure
washers, offset by lower portable generators shipments.
Power Products’ net sales for the first six months of fiscal 2011 were $353.9 million, up $23.2 million (7.0%) than the
prior year period. This improvement was credited to increased unit production volumes of snow throwers and ZTRs,
offset by reduced shipments of pressure washers and portable generators.
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