The complete report is here http://news.moneycentral.msn.com/provider/providerarticle.asp?feed=PR&Date=20061027&ID=6143649 but here are some excerpts regarding the boat business:
The Boat segment is comprised of the Brunswick Boat Group, which produces fiberglass and aluminum boats and marine parts and accessories, as well as offers dealer management systems. The Boat segment reported net sales for the third quarter of 2006 of $679.2 million, down 1 percent compared with $685.5 million in the third quarter of 2005. Excluding incremental sales from acquired businesses, organic boat sales declined 5 percent. Operating earnings decreased to $24.8 million from $37.9 million reported in the third quarter of 2005, and operating margins were 3.7 percent, down from 5.5 percent.
"During the quarter, we saw sales gains in boat parts and accessories as well as some of our larger models," McCoy said. "Significant declines were seen in sales of our smaller freshwater boat lines that are sold primarily in the upper Midwest where regional economic issues have affected discretionary spending among purchasers of these boats. The margin decline was driven by an unfavorable mix shift away from our higher-margin cruiser business as we work to rebalance these pipelines, as well as lower fixed-cost absorption due to reduced production levels."
The Boat segment is comprised of the Brunswick Boat Group, which produces fiberglass and aluminum boats and marine parts and accessories, as well as offers dealer management systems. The Boat segment reported net sales for the third quarter of 2006 of $679.2 million, down 1 percent compared with $685.5 million in the third quarter of 2005. Excluding incremental sales from acquired businesses, organic boat sales declined 5 percent. Operating earnings decreased to $24.8 million from $37.9 million reported in the third quarter of 2005, and operating margins were 3.7 percent, down from 5.5 percent.
"During the quarter, we saw sales gains in boat parts and accessories as well as some of our larger models," McCoy said. "Significant declines were seen in sales of our smaller freshwater boat lines that are sold primarily in the upper Midwest where regional economic issues have affected discretionary spending among purchasers of these boats. The margin decline was driven by an unfavorable mix shift away from our higher-margin cruiser business as we work to rebalance these pipelines, as well as lower fixed-cost absorption due to reduced production levels."
