Briggs & Stratton Corporation (BGG) announced fiscal 2010 first quarter net loss of $8.7 million or $0.18 per share, compared to net loss of $1.96 million or $0.04 per share last year.
On average, 6 analysts polled by Thomson Reuters expected the company to report loss of $0.23 per share. Analysts' estimates typically exclude special items.
Consolidated net sales were $324.6 million, compared to $458.15 million in the prior year quarter. Five analysts estimated revenues of $382.24 million.
The company continues to project that fiscal 2010 net income will be in the range of $40 to $50 million or $0.80 to $1.01 per diluted share. Consolidated net sales are now projected to be lower between years primarily due to the absence of hurricane related sales of portable generators and selected price reductions to reflect projected lower commodity costs.
Analysts expect the company to earn $0.93 per share.
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