Briggs & Stratton 4Q profit leaps on better sales

MILWAUKEE

Briggs & Stratton Corp. said Thursday its fiscal fourth-quarter earnings leaped on surging sales of its engine and power tools.

The company earned $18.2 million, or 36 cents per share, compared with year-ago earnings of $5.3 million, or 11 cents per share.

Net sales jumped to $615.6 million from $482.8 million a year earlier.

Analysts polled by Thomson Reuters expected a profit of 24 cents per share on sales of $558.7 million.

The Milwaukee company also issued a fiscal 2011 earnings prediction around what Wall Street analysts are currently expecting. The company forecasts net income between $60 million and $70 million, or $1.20 to $1.40 per share. Analysts, on average, predict $1.31 per share.

Consolidated net sales are expected to rise between 2 and 4 percent, implying a range of between $2.07 billion to $2.11 billion, depending on the level of recovery of consumer spending within the outdoor power equipment category.

Analysts predict net sales of $2.03 billion.

Shares rose 4 cents to $17.29 in afternoon trading.