Briggs & Stratton Corp. reports weaker sales but improved earnings

With strong sales of commercial products and engines helping offset weaker than expected revenue in residential outdoor power equipment, Briggs & Stratton Corp. on Wednesday reported a fourth-quarter profit of $19.7 million, or 46 cents per share, compared with $5.3 million, or 12 cents, in the same period a year earlier.

Overall sales in the recent quarter were $474 million, down $28 million or 5.6% from the year-ago period.

Certain North American vendors made unexpected changes in merchandising and inventory stocking levels during the spring selling season, Briggs said, which partially accounted for a decline in residential equipment sales.

For fiscal 2017, the company said it had net sales of $1.79 billion, down 1.3% from 2016. For fiscal 2018, the company estimates net sales in a range of $1.87 billion to $1.92 billion for projected annual growth of 4.5% to 7.5%