I changed my mind and took profits on BC, earnings tomorrow morning....I'll reload when they test the lows again?
More BC news closer to home: I fish ABA and I won a Triton TR-186 last year at the Regional Championship...I'm qualified to fish 2 Regionals championships this year!<g> I'm stll trying to get on Motorguides Pro staff?
More Brunswick cuts: Lund 7/11/2008
Brunswick continued to cut positions today in its effort to downsize,
and eliminated several pro-staff and marketing related positions at Lund Boats.
The news again raises the specter of what lies ahead for bass-related
Brunswick brands such as Mercury and Triton - in particular, pro-staff
and tournament-sponsorship activities. Both Mercury and Triton maintain
large, hard-hitting pro staffs and sponsor a significant portion of the
nation's bass tournament trails (as Lund does on the walleye side).
ABA Receives President`s Award from
Triton Boats, Mercury Marine and MotorGuide
Nashville, TN………….In a surprise announcement this morning at the Triton Boat Dealers Convention in Nashville, Tennessee, American Bass Anglers was awarded the prestigious “President’s Award”. The award was presented by Earl Bentz, President of Triton Boats and Dusty McCoy, Chairman and CEO of the Brunswick Corporation. Accepting the award on behalf of American Bass Anglers was it’s president and owner Morris Sheehan.
Earnings Preview: Brunswick seen posting 2Q loss
Tuesday July 22, 10:19 am ET
By Ashley M. Heher, AP Business Writer
Wall Street expects Brunswick to post 2nd-quarter loss on sinking boat sales
CHICAGO (AP) -- Boat maker Brunswick Corp. reports earnings for the second quarter on Thursday. The following is a summary of key developments and analyst opinion related to the period.
OVERVIEW: Brunswick, which makes boats, exercise equipment and bowling and billiards products, is being pummeled by the massive decline of the U.S. recreational boating industry.
The company announced in June that it would reduce its hourly and salaried work force by 1,000 jobs. Furthermore, the Lake Forest, Ill.-based company said it may slash up to an additional 1,700 jobs as further cost-cutting initiatives are completed.
The company already had laid off about 1,500 marine employees and announced plans to close 8 boat plants.
By the time the most recent rounds of layoffs and closures are completed, Brunswick's marine division will have been cut by about 25 percent since January.
The moves are expected to reduce costs by $300 million this year.
BY THE NUMBERS: Analysts polled by Thomson Financial predict a loss of 12 cents per share on revenue of $1.42 billion for the quarter.
ANALYST TAKE: BMO Capital Markets analyst Edward Williams said he expects Brunswick to post a weak second quarter because of the "excessively challenging market" for recreational boats and a downturn in consumer confidence.
"We expect the company to expand its current restructuring plans to include the closure of several more manufacturing facilities, as Brunswick reshapes itself to compete in a smaller domestic boat market," Williams wrote in a research note to investors earlier this month. "The near-term and midterm outlook remains challenging, but we believe (Brunswick) is in good position for the long term, owing to the breadth and depth of its boat brands as well as a leaner manufacturing operation."
WHAT'S AHEAD: Investors are hoping for more details on Brunswick's restructuring efforts and waiting to see if even more cuts are on the horizon.
STOCK PERFORMANCE: During the quarter, which began April 1, shares fell about 34 percent to end the period at $10.60. Shares are down about 38 percent for the year. |
