sickwilly
Lieutenant Junior Grade
- Joined
- Jul 9, 2007
- Messages
- 1,089
No, I don't work for them or sell their boats, but I did buy a bunch of their stock on the cheap for the kids stock funds.
This is how to weather an economic downturn, versus seeking bailouts. Here is today's (7-30) on Brunswick Boats! The stock is actually up 34% as of my writing this.
You may bash Bayliner boats, but their parent company will be around to honor their warranties for a long time, as their parent company is sitting on $460 million in cash!
Story: Brunswick posts wider 2Q loss as boat sales sink| 30 Jul 2009 | 11:45 AM ET
LAKE FOREST, Ill. - Brunswick Corp., a maker of boats, gym machines and pool tables, said Thursday its loss widened in the second quarter as it sold fewer boats and engines.
However, the Lake Forest, Ill., company said that its liquidity is strong, with more than $460 million in cash on hand, $100 million of which was generated during the most recent quarter.
Brunswick said it lost $163.7 million, or $1.85 per share, in the quarter that ended July 4 compared with a loss of $6 million, or 7 cents per share, a year earlier.
Excluding a restructuring charge and tax benefit, the company lost $1.50 per share, which missed the $1.36 per share loss forecast by analysts polled by Thomson Reuters.
Revenue fell 52 percent to $718.3 million from $1.49 billion. Analysts expected $806.2 million.
The company has been offering promotions and slowing production to reduce inventory. Its cash generation also helps to put it in position as the economy improves, the company said in a statement.
Its brands include Mercury, Mariner, Bayliner, Cabo Yachts, Sea Ray and other boats. it also sells Life Fitness and Hammer Strength gym equipment as well as Brunswick bowling gear and pool tables.
Brunswick shares rose $1.06, or 21 percent, to $6.22 in midday trading.
This is how to weather an economic downturn, versus seeking bailouts. Here is today's (7-30) on Brunswick Boats! The stock is actually up 34% as of my writing this.
You may bash Bayliner boats, but their parent company will be around to honor their warranties for a long time, as their parent company is sitting on $460 million in cash!
Story: Brunswick posts wider 2Q loss as boat sales sink| 30 Jul 2009 | 11:45 AM ET
LAKE FOREST, Ill. - Brunswick Corp., a maker of boats, gym machines and pool tables, said Thursday its loss widened in the second quarter as it sold fewer boats and engines.
However, the Lake Forest, Ill., company said that its liquidity is strong, with more than $460 million in cash on hand, $100 million of which was generated during the most recent quarter.
Brunswick said it lost $163.7 million, or $1.85 per share, in the quarter that ended July 4 compared with a loss of $6 million, or 7 cents per share, a year earlier.
Excluding a restructuring charge and tax benefit, the company lost $1.50 per share, which missed the $1.36 per share loss forecast by analysts polled by Thomson Reuters.
Revenue fell 52 percent to $718.3 million from $1.49 billion. Analysts expected $806.2 million.
The company has been offering promotions and slowing production to reduce inventory. Its cash generation also helps to put it in position as the economy improves, the company said in a statement.
Its brands include Mercury, Mariner, Bayliner, Cabo Yachts, Sea Ray and other boats. it also sells Life Fitness and Hammer Strength gym equipment as well as Brunswick bowling gear and pool tables.
Brunswick shares rose $1.06, or 21 percent, to $6.22 in midday trading.
