Briggs & Stratton Reports Q3 Earnings

MILWAUKEE, Wis. – Briggs & Stratton Corp. on Thursday reported third-quarter earnings rose, attributing the increase to recent acquisitions.

Net income increased to $80.6 million, or $1.56 per share, for the 2005 third quarter from $71.3 million, or $1.44 per share in 2004. Third-quarter net sales increased to $840.5 million in 2005 from $654.7 million in 2004.

The company benefited from a $19.8 million after-tax gain from acquiring bankrupt mower manufacturer Murray and the purchase of Simplicity Mfg. Excluding the benefit, the company’s net income loss resulted from increased spending on raw materials and other manufacturing costs and lower production volume in the engines segment, which was partly offset by improved sales volume and a favorable exchange rate on the Euro.

The company has lowered the top-end of its 2005 forecast because of rising materials and overhead costs. The company projects a year-end net income between $143 million and $148 million, or $2.76 to $2.85 per share. Net sales should top out at $2.6 billion, including $200 million from the Murray acquisition.

A full financial report is available at by clicking here.