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BRUNSWICK REPORTS IMPROVED THIRD QUARTER RESULTS

 LAKE FOREST, Ill., Oct. 26 /PRNewswire/ -- Brunswick Corp. (NYSE: BC) today reported that for the quarter ended Sept. 30, 1993, sales increased by 7 percent to $539.4 million from $503.4 million in the third quarter of 1992. Earnings from continuing operations for the current quarter increased to $15.2 million, or 16 cents per share, compared with $11.5 million, or 12 cents per share, in the third quarter of the prior year.
 Net earnings in the third quarter of 1993 were $10.6 million, or 11 cents per share, compared with $10.3 million, or 11 cents per share, in the third quarter of last year. The 1993 results include an extraordinary after-tax loss of $4.6 million, or 5 cents per share, for the retirement of debt. The 1992 third quarter net earnings include an after-tax loss of $1.2 million, or 1 cent per share, from discontinued operations.
 For the nine months ended Sept. 30, 1993, sales increased 5 percent to $1.67 billion from $1.59 billion. Earnings from continuing operations were $47.5 million, or 50 cents per share, up 16 percent over earnings of $40.8 million, or 44 cents per share, in the first nine months of 1992.
 Net earnings for the first nine months of 1993 were $42.9 million, or 45 cents per share, including the $4.6 million extraordinary item. Net earnings for the first nine months of 1992 were $1.8 million, or 2 cents per share, and include the cumulative effect of an accounting change for employees' postretirement benefits of $38.3 million, or 41 cents per share, after-tax and an after-tax loss of $0.7 million, or 1 cent per share, from discontinued operations.
 Pretax earnings from continuing operations for the third quarter of 1993 increased $2.7 million, or 17 percent, over the comparable 1992 period. The company's after-tax earnings from continuing operations for the third quarter of both 1993 and 1992 benefited from reductions in the company's estimated effective tax rates. For 1993, the year-to-date rate was reduced to 38 percent from the 44 percent used for the first six months. This $4.6 million reduction in income tax expense for both the third quarter and nine months period of 1993 results from the newly enacted changes to U.S. federal income tax law. The 1992 third quarter tax rate reflects an adjustment in the nine month estimated effective tax rate to 36 percent from the 38 percent used in the first half of 1992.
 "We are pleased to report improved results in our marine segment as domestic sales increased almost 12 percent, more than offsetting the continued weakness in international activity," commented Brunswick Chairman and Chief Executive Officer Jack F. Reichert. "Overall, marine segment sales were up 5 percent in the quarter to $394.5 million and operating earnings increased 20 percent to $20.1 million.
 "Our recreation segment reported a 15 percent sales increase in the quarter while operating earnings were up 4 percent. The Brunswick and Zebco divisions continued to report sales and operating earnings increases. The Brunswick Recreation Centers Division experienced a decline in sales and operating earnings as a result of competitive pricing pressures, and start-up costs for its new Circus World Pizza restaurant complexes," the Brunswick CEO said.
 Headquartered in Lake Forest, Brunswick Corp. is a multinational company with leadership positions in marine power, pleasure boating and recreation. Its stock is traded on the New York, Tokyo, London, Pacific and Chicago stock exchanges.
 BRUNSWICK CORP.
 Comparative Condensed Consolidated Results of Operations
 (in millions except per share data)
 (unaudited)
 For periods ended Quarters ended Nine months ended
 Sept. 30, 1993 1992 1993 1992
 Net sales $539.4 $503.4 $1,671.2 $1,594.5
 Earnings from continuing
 operations before
 income taxes $ 18.8 $ 16.1 $ 76.6 $ 63.7
 Income tax provision 3.6 4.6 29.1 22.9
 Earnings from continuing
 operations before
 extraordinary item and
 cumulative effect of
 accounting change 15.2 11.5 47.5 40.8
 Loss from discontinued
 operations -- (1.2) -- (0.7)
 Extraordinary loss from
 retirement of debt net of
 income taxes of $2.8
 million (4.6) -- (4.6) --
 Cumulative effect of
 accounting change
 net of tax effect
 of $23.4 million -- -- -- (38.3)
 Net earnings $10.6 $103 $42.9 $1.8
 Earnings(loss) per
 common share
 Continuing operations $0.16 $0.12 $0.50 $0.44
 Discontinued operations -- (0.01) -- (0.01)
 Extraordinary item (0.05) -- (0.05) --
 Cumulative effect of
 accounting change -- -- -- (0.41)
 Net earnings per common
 share $0.11 $0.11 $0.45 $0.02
 Average shares used for
 computation of earnings
 per common share 95.2 95.1 95.2 91.8
 Effective tax rate on
 continuing operations 19 pct. 29 pct. 38 pct. 36 pct.
 The 1993 third quarter tax rate benefited from a reduction in the nine month effective tax rate to 38 percent from 44 percent used for the first six months as a result of the newly enacted changes to the U.S. federal income tax law. The 1992 third quarter tax rate reflects an adjustment in the nine month estimated effective rate to 36 percent from 38 percent used in the first half of 1992.
 Results from continuing operations for the quarter and nine months ended Sept. 30, 1992, have been restated to include after-tax provisions of $0.7 million ($1.2 million pretax) and $2.1 million ($3.4 million pretax), respectively, as a result of the adoption of SFAS No. 106, which required changes in accounting for employees' postretirement benefits effective Jan. 1, 1992. The cumulative effect on prior years of adopting SFAS 106 was an after-tax charge of $38.3 million.
 The 1992 results have been restated to segregate the results of operations of the company's discontinued technical segment.
 Brunswick Corp.
 Comparative Condensed Segment Information
 (in millions)
 (unaudited)
 Marine Recreation Corporate Total
 Quarter ended
 Sept. 30, 1993
 Net sales $ 394.5 144.9 -- $ 539.4
 Operating earnings $ 20.1 10.2 (8.1) $ 22.2
 Quarter ended
 Sept. 30, 1992
 Net sales $ 377.5 125.9 -- $ 503.4
 Operating earnings $ 16.7 9.8 (7.0) $ 19.5
 Nine Months ended
 Sept. 30, 1993
 Net sales $1,198.9 472.3 -- $1,671.2
 Operating earnings $ 53.2 57.3 (24.1) $ 86.4
 Nine Months ended
 Sept. 30, 1992
 Net sales $1,206.0 388.5 -- $1,594.5
 Operating earnings $ 59.1 39.3 (21.1) $ 77.3
 Results for the quarter and nine months ended Sept. 30, 1992, have been restated to include provisions of $1.2 million ($0.8 million in marine; $0.3 million in recreation; and $0.1 million in corporate) and $3.4 million ($2.4 million in marine; $0.9 million in recreation; and $0.1 million in corporate), respectively, for the adoption of SFAS No. 106 which required changes in accounting for employees' postretirement benefits.
 -0- 10/26/93
 /CONTACT: William R. McManaman, vice president - finance, 708-735-4840, Ross H. Stemer, director - investor relations, 708-735-4851, or Adrian W. Sakowicz, director - public relations, 708-735-4131, all of Brunswick/
 (BC)


CO: Brunswick Corp. ST: Illinois IN: MAR SU: ERN

TW -- NY029 -- 6802 10/26/93 10:20 EDT
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Date:Oct 26, 1993
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