Briggs & Stratton has reported a slight drop in revenues for the first quarter of 2014-2015 fiscal year, ended September 28, 2014, posting consolidated net sales of US$ 292.6 million (£145 million), down 7.8% year-on-year.

B&S says this was mainly due to lower sales of engines because of high inventories in North America and lower sales of engines for snow thrower OEM customers in Europe.

But it says the decrease in net sales was partially offset by higher sales of pressure washers, snow throwers, lawn and garden equipment, and the Allmand acquisition.

Briggs & Stratton acquired Allmand Bros, a designer and manufacturer of portable lighting towers, industrial heaters, and solar LED arrow boards, in August this year for US$ 62 million (£39 million). 

Briggs & Stratton said itsfirst quarter consolidated net loss, which included restructuring expenses and acquisition related charges, was US$ 15.3 million (£9.8 million), compared to US$ 19.3 million (£12.5million) for the first quarter 2013-2014 fiscal year..

Todd Teske, Briggs and Stratton chairman, president and CEO, said, "Coming into the new trading year, we anticipated that higher channel inventories of lawn and garden equipment would impact our first quarter engine sales compared with last year, which benefitted from lower channel inventories and strong late season retail sales of equipment.

"Our OEM customers and retailers have taken actions to reduce inventories which impacted our engine sales.

"Despite the sales decrease, we are pleased with the improved margins in both the engines and products businesses, reflecting the cost cutting actions and our focus on higher margin products, including the acquisition of Allmand."