Brunswick Moves To 1st-quarter Loss As Sales Fall

To that end, the company plans to increase its cost cutting efforts. Brunswick now expects 2009 cost savings of $240 million, up from its prior estimate of $200 million.

For the period ended April 4, sales slumped about 45 percent to $734.7 million from $1.35 billion as marine sales tumbled 52 percent. The results missed Wall Street's estimate for revenue of $747.6 million.

While Brunswick is working to lower its wholesale shipments to minimize the number of boats and engines on dealers' floors, the company said it must also contend with reduced equipment orders from its fitness and bowling customers.

Brunswick cautioned that its 2009 adjusted profit will be significantly lower than the previous year.

In morning trading Brunswick shares fell 6 cents to $5.85.