Aug 11 U.S. engine maker Briggs & Stratton Corp
(BGG.N) reported quarterly results that missed analysts'
expectations, hurt by a 5 percent fall in sales at its largest
For 2012, the company forecast earnings of $1.05-$1.25 a
share, and expects net sales to rise by 2-4 percent -- which
Reuters calculates would work out to $2.15-$2.19 billion.
The April-June net loss was $17.8 million, or 36 cents a
share, compared with earnings of $18.2 million, or 36 cents a
share, in the year-ago period.
The company, which makes gasoline engines used in portable
generators, pressure washers and lawn-mowers, said its fourth
quarter included a non-cash goodwill impairment charge of $49.5
Revenue fell about 2 percent to $605.2 million as sales at
the engines segment fell 5 percent to $392.3 million, with a 13
percent fall in shipment volumes, the company said.
Analysts on average were expecting earnings of 42 cents a
share on revenue of $615.5 million, according to Thomson
Shares of the company closed at $14.99 Wednesday on the New
York Stock Exchange.
(Reporting by Bijoy Koyitty in Bangalore; Editing by Ian