Amended: corrects the second sentence in the first para to say the company reported earnings per share, not loss.
Thursday, Briggs & Stratton Corp. (BGG) said its second-quarter net income decreased to $3.02 million from $3.19 million in the prior year period. Earnings per share for the quarter stood at $0.06, flat with last year. On average, 7 analysts polled by Thomson Reuters expected the company to report earnings of $0.06 per share for the quarter.
Net sales for the quarter declined to $393.04 million from $477.48 million in the comparable period. Six analysts estimated revenues of $429.84 million for the quarter.
Briggs & Stratton still projects fiscal 2010 net income to be in the range of $40 million - $50 million or $0.80 - $1.01 per share. Consolidated net sales are expected to be around 6% lower between years. Seven analysts estimate earnings of $0.97 per share for the year.
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