After being slightly down in the second quarter of 2013, the fitness segment of the Brunswick Corporation reported its earnings were up in the third quarter 2013.
The Lake Forest, Ill.-based company reported its net sales of $892.4 million, up from $874.3 million a year earlier. Brunswick's fitness segment, which is compromised of Life Fitness and Hammer Strength fitness equipment, reported 2013 third-quarter sales totaling $165.9 million, up 9 percent from $151.9 million in the third quarter of 2012. International sales, which represented 51 percent of total segment sales in the quarter, increased by 15 percent. For the quarter, the fitness segment reported operating earnings of $25.3 million. This compares with operating earnings of $23.1 million in the third quarter of 2012.
For the third quarter of 2013, Brunswick as a whole reported net earnings from continuing operations of $57.4 million, or $0.61 per diluted share, compared with net earnings from continuing operations of $22.5 million, or $0.24 per diluted share, for the third quarter of 2012.
"We anticipated that our third quarter 2013 revenue and operating earnings would present several challenging comparisons to the 2012 third quarter, due to differences in outboard engine backorder trends between years, fiberglass sterndrive boat pipeline inventory reduction activity and investment spending required to execute our strategic goals," said Brunswick Chairman and Chief Executive Officer Dustan E. McCoy. "Our businesses performed very well and we met our operational and financial goals for the quarter. Our outstanding performance through the first nine months of 2013 affirms our ability to execute our strategic initiatives and generate solid revenue growth and improved operating earnings."