Golf gear and home products put a dent in Fortune Brands ( FO), sending quarterly profit tumbling 27%.

The company, which makes everything from hardware and liquor to sporting goods, earned $99.8 million, or 66 cents, in the second quarter, down from $136 million, or 88 cents, in the year-prior.

Excluding one-time items the company earned 70 cents a share, better than the 63 cents expected by analysts.

Sales fell 17% to $1.74 billion from $2.1 billion. Spirit sales were down 1%, golf equipment sank 19% and home and hardware sales tanked 25%.

As consumers cut back on home improvement projects, Fortune has seen weakness in products like faucets and cabinets. And while the alcohol business has actually remained steady in the market -- as shoppers drink away their worries, perhaps -- they are trading down from pricier brands like Fortune's Jim Beam liquor.

Fortune Brands said the strong dollar also hurt sales by 4% and decreased earnings by 5 cents a share.

Looking ahead, the company expects to earn between $2 and $2.30 in 2009.

Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

More from Earnings

3 Warren Buffett Stock Picks That Could Be Perfect for Your Retirement Portfolio

3 Warren Buffett Stock Picks That Could Be Perfect for Your Retirement Portfolio

FedEx Rises as Profit, Revenue Beat Expectations

FedEx Rises as Profit, Revenue Beat Expectations

Second-Quarter Earnings on Track for Massive Growth, So Relax Wall Street

Second-Quarter Earnings on Track for Massive Growth, So Relax Wall Street

Jim Cramer Reveals the Recipe for a Higher Stock Price

Jim Cramer Reveals the Recipe for a Higher Stock Price

Jim Cramer: Should We Abandon Quarterly Guidance?

Jim Cramer: Should We Abandon Quarterly Guidance?