Briggs & Stratton reports strong fourth quarter

Freeman Staff

Aug. 13, 2015

MILWAUKEE — Fiscal 2015 ended on a strong note for Briggs & Stratton Corporation which reported that its fourth quarter fiscal 2015 consolidated net sales were $539 million, an increase of $42 million or 8.5 percent compared to the prior year. Net sales increased $51.5 million or 10.4 percent before currency impacts, according to the Thursday announcement.

In addition, fourth quarter fiscal 2015 consolidated adjusted net income was $23 million, a 58 percent improvement from the adjusted net income of $14.6 million in the fourth quarter of fiscal 2014. Also, fiscal 2015 net sales increased by $36 million or 1.9 percent compared to last year. Net sales increased $65 million or 3.5 percent before currency impacts, the company reported.

“Sales and earnings significantly improved this year as we saw continued improvement in our key markets, a more normal start to the spring lawn and garden season, and solid execution of our strategy by our team,” said Todd J. Teske, chairman, president and chief executive officer, in a statement. “The strong earnings improvement is due to executing our plan this year in a number of areas. We held or grew our engine market share. We expanded margins in both the engines and products businesses due to launching several new products, growing our portfolio of higher margin commercial products by completing two acquisitions in the job site and commercial turf categories, and executing on our cost reduction initiatives in the products business. These sales and profitability improvements were achieved despite significant foreign currency headwinds caused by a stronger U.S. dollar.”