Briggs & Stratton Generator Sales Up, Snow Thrower Sales Down
Jan 30, 2013
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Briggs & Stratton Corp. (Milwaukee, WI) reported second quarter fiscal 2013 consolidated net sales of $439.1 million, down 2.0% from the second quarter of fiscal 2012. Briggs & Stratton's fiscal 2Q 2013 ended Dec. 30, 2012.
The company is a maker of outdoor power equipment and serves as a supplier of engines to other outdoor power equipment OEMs.
Briggs & Stratton's 2Q fiscal 2013 consolidated net income, excluding restructuring charges, was $3.7 million, up $1.0 million from $2.7 million in 2Q fiscal 2012.
"Sales of portable and standby generators in response to Hurricane Sandy were offset by lower sales of snow throwers and engines for snow throwers in the U.S. and a significantly weaker market for lawnmowers in Australia, our third largest market," said Todd Teske, chairman, president, and CEO of Briggs & Stratton Corp.
"Sales of lawnmower engines to our U.S. OEM customers continue to show growth over last year as dealers and retailers prepare for an anticipated improvement in this year's lawn & garden season after last year's drought in the U.S." Teske added. "We continue to be pleased with the execution and the financial impact of the cost reduction activities that we began last year which are positively impacting the results of both our engines and products businesses."
Consolidated net sales for 2Q fiscal 2013 were $439.1 million, down $8.9 million or 2.0% from 2Q fiscal 2012. Net loss, including restructuring charges, was $0.6 million; 2Q fiscal 2012 consolidated net income was $2.7 million.
In the first six months of fiscal 2013, consolidated net sales were $748.1 million, down $97.2 million or 11.5% from the first half of fiscal 2012. The consolidated net loss was $17.2 million; the consolidated net loss for the first six months of fiscal 2012 was $2.5 million.
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