Wauwatosa-based Briggs & Stratton Corp. reported that its fiscal second quarter net sales increased 2 percent to $439.1 million.
The response to Hurricane Sandy boosted the company, but poor snow thrower sales have hurt the company, which manufactures gasoline engines for outdoor power equipment.
“Sales of portable and standby generators in response to Hurricane Sandy were offset by lower sales of snow throwers and engines for snow throwers in the U.S. and a significantly weaker market for lawnmowers in Australia, our third largest market,” said Briggs & Stratton chairman, president and chief executive officer Todd Teske. “Sales of lawnmower engines to our U.S. OEM customers continue to show growth over last year as dealers and retailers prepare for an anticipated improvement in this year’s lawn and garden season after last year’s drought in the U.S.”
The company reported a net loss of $635,000 for the quarter, down from net income of $2.7 million in the previous fiscal second quarter. However, included in the net loss for the quarter were pre-tax charges of $6.6 million related to restructuring actions. Excluding the restructuring charges, net income for the quarter was $3.7 million, the company said.
