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Company News



UPDATE 1-Briggs & Stratton sees $1.5 million quarterly loss
Mon Oct 18, 2004 08:58 AM ET
NEW YORK, Oct 18 (Reuters) - Briggs & Stratton Corp. (BGG.N: Quote, Profile, Research) , which makes small engines, said on Monday it expects to report a quarterly loss of about $1.5 million this week because a major customer may be unable to pay a bill.
The Milwaukee company said it will increase its reserves by $10 million because it believes a $40 million accounts receivable due from a major original equipment customer could become uncollectable in part in the future.

Briggs & Stratton said the expected loss will be about 6 cents per diluted share when it reports first-quarter results on Thursday.

The company said the $10 million pretax expense was not reflected in the original earnings guidance it provided for the quarter and full year when it reported fourth-quarter earnings on Aug. 5.

Briggs & Stratton also cut its estimate for fiscal 2005 net income to between $150 million and $160 million from a previously announced range of $160 million to $165 million.


© Reuters 2004. All Rights Reserved.
 

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I was wondering the same thing myself. I noticed that they were very careful not to name the non-paying company.:truth:
 

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Maybe we need to start a poll on this:
Since Crapsman usually uses Tec engines on their branded stuff its probably not Sears, besides their junk is contracted out to lowest bidder to make for them.....

I would have to go with Murray as they are one of the few that may contract for such a large amount of engines.
 

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Sears uses lots of B&S in their garden equipment but I doubt if they would renege on payment unless it was for faulty products. I've seen Tec's in their walk behind mowers and chipper.
 

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Murray would be my guess being they are trying to sell it off.
 

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It's Murray..no doubt.....

Dime to a donut Briggs will own them to pursue mass business like they do with Generac. They already build the older engines in China and will be increasing production of newer engines there.

Simplicity,Snapper & Ferris are the dealer lines.....Murray will be the mass merchant line. MHO.
 
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