Brunswick Corporation saw a 2% decrease in net sales for the first quarter to $1.39 billion from $1.41 billion last year. Overall net earnings from continuing operations for the company were down 53.7% to $34.3 million, or 38 cents per diluted share, from $74.1 million, or 77 cents per diluted share, for the year-ago quarter. The sales and earnings decreases came largely as a result of softness in the boating market, but were exacerbated by weakness in Bowling and Billiards.
The Fitness segment recorded an 8% gain in sales for the quarter to $145.0 million from $134.0 million in the year-ago quarter. Segment operating earnings were down 9% for the quarter, totaling $8.1 million compared with $8.9 million for the year-ago quarter.
The Bowling & Billiards segment sales in the quarter decreased 7.8% to $105.8 million from $114.7 million last year. Operating earnings dropped 35.2% to $8.3 million for the period from $12.8 million in the year-ago quarter. Management noted the sales decline came from the a decrease in the number of retail bowling centers in operation, but that on a comparable store basis, sales increased.
