This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Brunswick's CEO Discusses Q2 2012 Results - Earnings Call Transcript

In the first half of the year, our sales decreased by 2%. Sales from our ongoing European businesses declined by about $61 million during the first six months. Sealine sales during the first half of 2011 were approximately $32 million.

Operating earnings, excluding restructuring, exit, and impairment charges were $116 million for the quarter, an 8% increase compared to 2011. Operating margins, ex-charges increased by 110 basis points to 10.9%. The increased in operating earnings reflect gross margin improvements as well as the reductions in operating expenses that I previously mentioned.

Operating earnings, excluding restructuring, exit, and impairment charges were $184 million for the first half, an increase of 2% compared to 2011. Operating margins, ex-charges increased by about 40 basis points to 9%.

Net earnings for the quarter were $0.90 per share, including a $0.01 charge for restructuring, $0.05 of losses on debt retirements and a $0.03 benefit from special tax items. Excluding these items, our diluted earnings per share would have been $0.93 per share.

This compares to net earnings of $0.75 per share in the prior quarter, which included a $0.01 of losses on debt retirements and the $0.02 benefit from special tax items. Again, excluding these items 2011's earnings per share would have been $0.74. In summary our adjusted EPS increased by $0.19 or 26%.

I'm now going to Page 10. Net earnings for the first half were $1.34 per share, including $0.01 of restructuring charged, $0.05 of losses on debt retirement and a $0.02 benefit from special tax items. Excluding these items, our diluted earnings per share would have been $1.38 per share.

This compares to net earnings of $1.05 per share in prior year, which included $0.05 of restructuring charges and $0.05 of losses on debt retirements, and a $0.02 benefit from special tax items. Excluding these items 2011's earnings per share would have been $1.13. As adjusted, our first half EPS increased by $0.25 or 22%.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,976.31 +263.65 1.49%
S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs