Briggs & Stratton Q4 Loss Widens - Quick Facts

(RTTNews) - Briggs & Stratton Corp. (BGG), Thursday reported a wider loss for the fourth quarter, reflecting decrease in revenues and impact of certain charges.

For the three-month period, the company reported net loss of $55 million or $1.17 per share, compared with a loss of $8.4 million or $0.18 per share during the same quarter last year.

Excluding the impairment charges of $90.1 million and restructuring costs and legal settlement of $5.7 million, the company reported adjusted net income of $10.7 million or $0.22 per share for the quarter. On average, four analysts polled by Thomson Reuters expected earnings per share of $0.19 for the quarter. Analysts' estimates typically exclude one-time items.

Consolidated net sales were $477.2 million for the fourth quarter, a decrease of 4.8 percent from prior year's $501.1 million. Analysts expected the company to report revenues of $474.97 million. The sales were affected the weather conditions and consumer spending pattern, the company said.

Looking forward, for fiscal 2014, the company expects net income to be in a range of $50 million to $62 million or $1.04 per share to $1.28 per share, before the impact of any special items. Net sales are projected to be in the range of of $1.88 billion to $2.03 billion. Analysts expect the company to report earnings per share of $1.23 for the year, on revenues of $1.95 billion.