Husqvarna Q3 op income misses forecasts
STOCKHOLM Oct 24 (Reuters) - Outdoor equipment maker Husqvarna on Thursday undershot expectations for the third quarter reporting roughly flat operating income, weighed down by a weak performance in North America.
The company reported an adjusted operating profit of 206 million Swedish crowns ($32.3 million) versus the 197 million in the same quarter of 2012 and the 339 million mean forecast in a Reuters poll.
"A positive development for Europe & Asia/Pacific was offset by a decline for Americas, as the majority of the strong sales growth in North America referred to low margin consumer products in the retail channel," CEO Kai Warn said in a statement.
($1 = 6.3794 Swedish crowns) (Reporting by Mia Shanley and Helena Soderpalm)
- Putin dissolves state news agency, tightens grip on Russia media
- North Korea says Kim's powerful uncle dismissed for 'criminal acts'
- Thai PM calls snap election, protesters want power now |
- Record cold, ice grip U.S.; more snow to blanket East
- Protesters fell Lenin statue, tell Ukraine's president 'you're next'