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Article: Briggs & Stratton Corporation Reports Results for the Second Quarter and First Half of Fiscal 1997
- Article from:
- PR Newswire
- Article date:
- January 15, 1997
CopyrightCOPYRIGHT 1997 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, Jan. 15 /PRNewswire/ -- Briggs & Stratton Corporation (NYSE: BGG):
Net income for the second quarter was 30% lower than for last year's second quarter. Sales were 9% lower. Engine unit shipments were down 15%. The decrease in profit margins was the result of lower sales and lower production.
For the first half, net income decreased 45%. Sales decreased 11%.
The sales decreases for both the second quarter and first half were a result of lawn and garden equipment manufacturers building products as close as possible to the time they are needed by retailers. These important customers have increased their peak production ...