Briggs & Stratton Q4 EPS Misses View; To Buy Allmand Bros.- Quick Facts

(RTTNews) - Briggs & Stratton Corp. (BGG) Thursday reported profit for the fourth quarter compared with a loss last year. The year-ago quarter's loss was a result of decrease in revenues and impact of certain charges. Net sales for the current quarter grew 4.1 percent year-over-year. In addition, the company announced the acquisition of U.S. based Allmand Bros., Inc. The group reported net earnings of $7.8 million or $0.17 per share compared with a loss of $55.0 million or $1.17 per share a year ago. On an adjusted basis, it earned $0.31 per share. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.36 for the quarter. Analysts' estimates typically exclude special items. Quarterly sales improved to $496.8 million from $477.2 million last year, while analysts estimated revenue of $495.93 million. Separately, the company said it will buy Allmand, a maker of towable light towers, industrial heaters, and solar LED arrow boards, for nearly $62 million in cash. The transaction is expected to be complete in the next 30 days. Looking ahead, for fiscal 2015, the group expects net income to be in a range of $50 million - $60 million or $1.07 per share - $1.27 per share excluding acquisitions, additional share repurchases, or costs related to restructuring actions. Net sales are projected to be in a range of $1.88 billion - $1.94 billion. Wall Street expects earnings per share of $1.16 per share on revenues of $1.92 billion.