For the third quarter, Brunswick Corporation reported a 1% decrease in net sales to $1.34 billion, down from $1.35 billion last year. Net earnings from continuing operations totaled $50.4 million, or 54 cents per diluted share, down 28.8% from $82.4 million, or 83 cents per diluted share, for the third quarter of 2005. Organic sales were down 3%.
The Boat and Marine Engine segments combined reported sales of $1.22 billion, down 1.6% from $1.24 billion last year. Combined operating earnings decreased 24.1% to $75.2 million from $99.1 million reported in the third quarter of 2005.
Fitness equipment sales increased 7% in the third quarter of 2006 to $136.6 million, up from $127.4 million in the year-ago quarter with international sales said to have increased in the “double-digits.” Fitness segment operating earnings for the quarter totaled $12.6 million, down from $14.2 million in the third quarter of 2005, and operating margins were down 1.9 percentage points to 9.2% compared with 11.1% a year ago.
The Bowling & Billiards segment saw sales in the third quarter of 2006 amount to $113.4 million, up 1% from $111.9 million in the year-ago quarter. Operating earnings decreased in the third quarter to $3.1 million versus $5.7 million, with operating margins decreasing 2.4 percentage points to 2.7% compared with 5.1% in 2005.
The company is estimating 2006 earnings from continuing operations will be in the range of $2.40 to $2.46 per share, excluding non-recurring tax benefits, down from last years $3.13 per share.
