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Article: BRIGGS & STRATTON CORPORATION REPORTS RESULTS FOR THE FIRST QUARTER OF FISCAL 1996
- Article from:
- PR Newswire
- Article date:
- October 12, 1995
CopyrightCOPYRIGHT 1995 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MILWAUKEE, Oct. 12, PRNewswire/ -- Briggs & Stratton Corporation (NYSE: BGG):
Operations in the first quarter of fiscal 1996 produced a loss of $3.3 million or $.11 per share compared with a profit of $11.4 million or $.39 per share for last year's first quarter. Sales decreased 17%. Engine unit shipments decreased 24%. Manufacturers of lawn and garden equipment reduced their production rates this summer to reduce inventory. This is in stark contrast with last year, when a shortage psychology encouraged manufacturers of lawn and garden equipment to build large quantities of product during the summer and fall for sale the following spring. Comparative results also ...