WAUWATOSA, WI (WTAQ) - Briggs and Stratton lost money in its most recent quarter.
But the Wauwatosa maker of small engines had higher earnings than what outside analysts expected – and its sales grew, due mainly to the portable and standby generators Briggs sold to victims of Hurricane Sandy.
It wasn’t enough to avoid an overall loss of $635,000 from October through December. That compares to a net income of $2.7 million in the same quarter of 2011.
The loss includes restructuring costs. Briggs says it’s encouraged that the nation’s housing market is starting to recover. That normally results in more people buying Briggs’ lawnmower engines. But a lack of snow caused sales of snowmobile engines to go drop.
Still, investors were encouraged by what they’re hearing. Briggs’ stock price rose by over 10 percent Thursday.