WAUWATOSA — Briggs &
Stratton Corp. (BGG) on Thursday reported a loss of $18.5 million in
its fiscal fourth quarter.
On a per-share basis, the Wauwatosa-based company said it had a loss
of 45 cents. Losses, adjusted for non-recurring costs, were 36 cents
The results did not meet Wall Street expectations. The average
estimate of three analysts surveyed by Zacks Investment Research was
for earnings of 46 cents per share.
The engine maker posted revenue of $472 million in the period, which
also fell short of Street forecasts. Three analysts surveyed by
Zacks expected $523.3 million.
For the year, the company reported that its loss widened to $54.1
million, or $1.31 per share. Revenue was reported as $1.84 billion.
Briggs & Stratton expects full-year earnings in the range of 20
cents to 40 cents per share, with revenue in the range of $1.91
billion to $1.97 billion.
Briggs & Stratton shares have decreased 37% since the beginning of
the year. The stock has decreased 55% in the last 12 months.