Boat sales drive up Brunswick 4Q sales 6 percent

LAKE FOREST - Strong sales in its boat division helped boost Brunswick Corp. net sales for the third quarter of 2015 by 6 percent, the company reported.

Net sales for the quarter was $991.9 million, up from $932.1 million during the same period last year. Operating earnings, which included $900,000 of net restructuring, exit and impairment charges, were $115.8 million, compared to $93.7 million in the prior year,

"Our top line reflected strong growth rates in fiberglass outboard and sterndrive/inboard boats. This growth also included a solid performance by marine parts and accessories, outboard engines, fitness equipment and aluminum boats," said Brunswick Chairman and Chief Executive Officer Dustan E. McCoy. "Sales growth was driven by solid market demand, higher average marine selling prices and continued market share gains."

The company's boat segment reported net sales of $271.3 million for the third quarter, up 16 percent compared with $234.6 million in the third quarter of 2014. International sales, which represented 21 percent of total segment sales in the quarter, decreased by 16 percent during the period. On a constant currency basis, international sales were down 6 percent. For the third quarter of 2015, the Boat segment reported operating earnings of $6.4 million.

Net earnings for the quarter were $72.2 million, or 77 cents per diluted share, compared with net earnings of $61 million, or 64 cents per diluted share, for the third quarter of 2014. The diluted earnings per share for the third quarter of 2014 included 1 cent per diluted share of restructuring, exit and impairment charges and $0.02 per diluted share benefit from special tax items.

The company's marine engine segment, consisting of the Mercury Marine Group, reported net sales of $588.2 million in the third quarter of 2015, up 4 percent from $566.9 million in the third quarter of 2014. International sales, which represented 32 percent of total segment sales in the quarter, were down 5 percent compared to the prior year period

Its fitness segment, comprised of the Life Fitness Division, reported sales in the third quarter of 2015 of $197.5 million, up 4 percent from $189.0 million in the third quarter of 2014. International sales, which represented 47 percent of total segment sales in the quarter, decreased by 4 percent. On a constant currency basis, international sales were up 4 percent.