Briggs & Stratton Sees FY13 Net Sales, Earnings Below Guidance - Quick Facts

(RTTNews) - Briggs & Stratton Corp. (BGG) announced that it expects to report net sales and earnings below the guidance provided for fiscal 2013.

"An extremely slow start to the spring lawn and garden season and a cautious approach to managing inventories after last year's drought has impacted the U.S. and European markets through the end of June," said Todd Teske, Chairman, President and CEO of Briggs & Stratton Corporation.

Consolidated net sales for the fourth quarter and fiscal year 2013 are expected to be approximately $475 million and $1.86 billion, respectively.

The company also announced that, revised fourth-quarter and fiscal 2013 adjusted earnings per share is estimated to be approximately $0.17 to $0.21 per share and $0.88 to $0.92 per share, respectively.

Analysts polled by Thomson Reuters expect the company to report profit of $0.49 per share for fourth quarter. Analysts' estimates typically exclude special items. Analysts expect revenue of $557.83 million for the quarter.

Analysts expect the company to report full year profit per share of $1.19 on revenue of $1.94 billion.