Briggs & Stratton International Sales Strong, North America Slowed by Weather
Aug 12, 2011
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Briggs & Stratton Corp. (Milwaukee, WI, U.S.) consolidated net sales were up 4.0% to $2.1 billion in its fiscal year 2011, ending July 3, 2011, although fourth quarter sales were down 1.7% from the fourth quarter of the previous year to $605.2 million. Adjusted consolidated net income for fiscal 2011 was $63.2 million, up 14.4% from fiscal 2010.
"Sales growth in our international markets continued through the fourth quarter of fiscal 2011," said Todd J. Teske, chairman, president, and CEO of Briggs & Stratton. "This diversification of our customer base helped us deliver 14.4% growth in adjusted consolidated net income in a year that the North American consumer lawn and garden market has declined double-digits."
Briggs & Stratton operates as a supplier of engines to outdoor power equipment OEMs (Engines segment) and as an outdoor power equipment OEM itself (Power Products segment). The products segment sells under brand names Briggs & Stratton, Brute, Craftsman, Ferris, John Deere, Murray, Simplicity, Snapper, Victa, and Troy-Bilt.
The company's Engines segment suffered along with the North American outdoor power equipment industry, with sales slowed by unfavorable weather during the lawn and garden selling season. The segment showed fiscal full-year 2011 income of $120.4 million, up from $83.5 million in fiscal 2010.
Power Products Segment net sales for fiscal 2011 were $879.0 million, up $35.3 million or 4.2% from 4Q 2010, due mostly to stronger Australian and European sales.
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