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Article: Briggs & Stratton Corporation Reports Results for the First Quarter of Fiscal 1997
- Article from:
- PR Newswire
- Article date:
- October 10, 1996
CopyrightCOPYRIGHT 1996 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, October 10/PR Newswire/--Briggs & Stratton Corporation (NYSE: BGG)
Operations in the first quarter of fiscal 1997 produced a loss of $5.3 million or $.18 per share compared to a loss of $3.3 million or $.11 per share for last year's first quarter. Sales decreased 15%. Engine unit shipments decreased 20%. The sales decline, and the resulting earnings decline, were a consequence of customers' plans to build lawn and garden equipment later this year than they did last year.
The sale of our Menomonee Falls plant was completed just after the quarter ended. Because we retain an interest in the warehouse portion of the facility, the gain on ...