Brunswick Corporations total sales for the first quarter were $734.7 million, a 45.4% decline from year-ago sales of $1.35 billion. The company said this drop was primarily the result of marine sales that had dropped 52.4% as weakness in the global marine marketplace accelerated during the quarter.
The company experienced a net loss of $184.2 million, or $2.08 per diluted share, which includes $39.6 million, or 45 cents per diluted share, of restructuring charges and 40 cents per diluted share of non-cash charges.
The Boat segment reported net sales for the first quarter of $205.3 million, down 63.7% compared with $565.6 million in the first quarter of 2008. International sales, which represented 40% of total segment sales in the quarter, decreased by 59% during the period.
Fitness segment sales in the first quarter totaled $118.6 million, down 20.5% from $149.2 million in the year-ago quarter. International sales, which represented 45% of total segment sales in the quarter, declined by 16% on a year-to-year basis. For the quarter, the Fitness segment reported operating earnings of $0.3 million, including $1.0 million of restructuring charges. This compares with operating earnings of $8.1 million in the year-ago quarter.
Commercial equipment sales, which account for the largest percentage of Fitness segment sales, declined in the quarter as gym and fitness club operators remained cautious about ordering equipment. Sales of consumer exercise equipment were down even more year-over-year.
The Bowling & Billiards segment sales in the first quarter of 2009 totaled $99.9 million, down 12.1% compared with $113.6 million in the year-ago quarter. For the quarter, the segment reported operating earnings of $10.6 million, including restructuring charges of $0.8 million. This compares with operating earnings of $0.9 million, including restructuring charges of $5.6 million in Q1 2008. Retail bowling revenues declined by mid-single digits during the quarter.
