April 22, 2010 / 1:11 PM / 8 years ago

UPDATE 1-Briggs & Stratton Q3 results beat Wall Street view

* Sees 2010 EPS $0.48-$0.62 vs est $0.88/shr

* Q3 adj EPS $0.85 vs est $0.67/shr

* Q3 revenue up 3 pct

April 22 (Reuters) - U.S. engine maker Briggs & Stratton Corp (BGG.N) reported better-than-expected quarterly results, but forecast 2010 earnings below analysts’ expectations.

The company also said production of substantially all products are planned to be lower in fiscal 2010 to decrease investment in working capital.

For the third quarter, the company reported earnings of $24.1 million, or 48 cents a share, compared with $25.4 million, or 51 cents a share, in the year-ago period.

Revenue rose 3 percent to $694.6 million. Engines revenue increased 4 percent to $498.9 million.

    Excluding a litigation settlement expense of 37 cents a share, the company earned 85 cents a share.

    Analysts on average were expecting earnings of 67 cents a share, on revenue of $672.3 million, according to Thomson Reuters I/B/E/S.

    For 2010, the company forecast earnings of 48 cents to 62 cents a share. Analysts were expecting 88 cents a share.

    Shares of the company closed at $21.86 Wednesday on the New York Stock Exchange. (Reporting by Bijoy Koyitty in Bangalore; )

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