Brunswick to sell Hatteras, CABO yacht brands
Jan 3 (Reuters) - Recreational boat maker Brunswick Corp said it is seeking buyers for its sportfishing convertible yacht brands, Hatteras and CABO, to concentrate on its other models.
The company said it expects to record related charges of between $70 million and $80 million, a major part of which will be taken in the fourth quarter ended December.
Analysts on average are expecting revenue of $849.45 million for the fourth quarter, according to Thomson Reuters I/B/E/S.
"The current plan assumes that the eventual purchaser will retain both the physical plant and the workforce of Hatteras/CABO", Chief Executive Dustan McCoy said.
Brunswick bought Hatteras for $80 million in 2001 and CABO for $60 million in 2006.
Hatteras, established in 1959, makes 54 feet to 105 feet long boats.
Brunswick shares were marginally down at $31.37 in trading after the bell. They closed at $31.51 on the New York Stock Exchange on Thursday.
- U.S. war veteran released by North Korea returns home |
- Pennsylvania newlyweds "just wanted to murder someone together:" police
- Teenager dies on Atlanta-bound flight, plane diverted
- U.S. ice storm causes blackouts, delays in Texas, Arkansas
- WTO overcomes last minute hitch to reach its first global trade deal