Brunswick Q4 Profit Beats Estimates - Quick Facts

(RTTNews) - Brunswick Corporation (BC) reported fourth-quarter net earnings from continuing operations of $583.6 million or $6.18 per share, compared to a loss of $16.1 million or $0.18 per share, last year. Net income was $581.2 million or $6.16 per share, compared to a loss of $75.3 million or $0.84 per share, prior year. Earnings before income taxes was $6.4 million, compared to a loss of $12.5 million, last year.

The earnings per share for the fourth quarter of 2013 included a reversal of deferred tax valuation allowance reserves of $6.35 per share, $0.09 per share of restructuring, exit and impairment charges, $0.01 per share for losses on early extinguishment of debt and a $0.22 per share charge from special tax items.

Earnings from continuing operations, as adjusted, was $0.15 for the quarter.

On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.13 for the quarter. Analysts' estimates typically exclude special items.

Net sales were $901.5 million, compared to $829.8 million, last year. Analysts expected revenue of $872.29 million for the quarter.

The company expects its 2014 earnings per cshare, as adjusted, to be in the range of $2.40 to $2.55. In 2014, the company is targeting 5 percent to 7 percent sales growth. Analysts expect the company to report fiscal 2014 earnings per share of $2.64.