October 24, 2013 / 10:03 AM / in 4 years

UPDATE 1-Husqvarna Q3 op income misses forecasts, shares plummet

2 Min Read

(Adds details, share price)

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.

Shares in the world's biggest maker of chainsaws, trimmers, lawn mowers and garden tractors were down over 12 percent at 0956 GMT.

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.

Warn said the company was not planning the sale of any loss-making operations in the United States.

"There is no scenario in which we sell Americas, or retail in the Americas," Warn told a conference call after the results were published..

$1 = 6.3794 Swedish crowns Reporting by Mia Shanley and Helena Soderpalm

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