Brunswick chairman says company is on solid footing

Published online: Oct 31, 2011 News Trade Only Today
Viewed 134 time(s)

As Brunswick Corp. announced that operating earnings were at their highest nine-month level since 2006, chairman and CEO Dustan E. McCoy told investors that he hoped the company's quarterly earnings statements will become increasingly "boring."

"We want to get away from big swings in this business," McCoy told investors and analysts Thursday during Brunswick's third-quarter earnings call. "I hope as you watch you will become more and more comfortable that we will continue to perform and grow the top and bottom line without worrying too much about overall economic conditions."

Brunswick's retail sales, up overall about 9 percent for the year to date, compared with the marine industry's 1 percent increase for the same period, rose "significantly more than 9 percent on a year-over-year basis" in the third quarter, McCoy said.

McCoy attributed Brunswick's ability to outperform the market in a traditionally slow boat sales quarter - while providing fewer discounts and promotions than in 2010 - to the strong dealers that comprise the company's distribution network.

"I do have a concern, and that concern is that maybe we don't have enough in the pipeline on smaller [and aluminum] product, but our guys are working hard to make sure we're well-positioned for 2012," McCoy said.

Numbers

Brunswick reported an increase in net sales for the third quarter and said it swung from a loss a year earlier to a profit for the quarter this year.

Read more at
http://www.tradeonlytoday.com/home/516924-brunswick-chairman-says-company-is-on-solid-footing?takeover=1

Follow us on Facebook!  Follow us on Instagram!  Follow us on Twitter!  Follow us on YouTube!