Husqvarna Q1 earnings undershoot, hit by weather
STOCKHOLM, April 24
STOCKHOLM, April 24 (Reuters) - Outdoor equipment maker Husqvarna reported a bigger than expected fall in first quarter earnings on Wednesday, hit by bad weather in Europe.
The company reported an operating profit of 688 million Swedish crowns ($104 million), down from the 930 million in the same quarter of 2012 and below the 803 million crown mean forecast in a Reuters poll.
"We have a continued cautious outlook for demand in Europe, while the outlook for North America remains more positive," the company said in a statement.
Husqvarna announced in March the appointment of a new chief executive and has said it would focus more on improving profitability than pursuing sales growth.
($1 = 6.6191 Swedish crowns) (Reporting by Sven Nordenstam)