Briggs & Stratton have announced their Q1 results. Revenue rose 2.7% for the three months ended Sept. 30, to $317.3 million from $309.0 million, with sales increases in engines and lawn and garden products, partially offset by lower sales of portable generators.
"Our first quarter results were slightly better than we anticipated as we experienced increased consumer demand for lawn and garden equipment leading to higher shipments of engines that power these products and higher shipments of lawn and garden products to our dealers," said Todd Teske, chairman, president and chief executive, in a statement. "We have also seen continued strength in standby generator sales; however, portable generator sales decreased with Hurricane Isaac impacting on last year but no significant storm activity this year."
Overall, B&S reported a loss of $19.3 million, or 41 cents a share, compared with a loss of $16.5 million, or 35 cents, a year earlier. Included in the loss for the recent quarter were pretax restructuring charges of $3.6 million. Included in the loss for the year-ago quarter were pretax charges of $5.1 million also related to restructuring actions.




