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RPT-UPDATE 1-Briggs & Stratton Q4 misses Wall St view
August 11, 2011 / 1:05 PM / 6 years ago

RPT-UPDATE 1-Briggs & Stratton Q4 misses Wall St view

Aug 11 (Reuters) - 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 engine segment.

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 million.

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 Reuters I/B/E/S.

Shares of the company closed at $14.99 Wednesday on the New York Stock Exchange. (Reporting by Bijoy Koyitty in Bangalore; Editing by Ian Geoghegan)

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