Brunswick reports increased 4Q sales, narrows loss

Brunswick Corp., parent of Knoxville-based Sea Ray Boats, said Thursday increased revenue helped narrow its fourth quarter loss.

The Lake Forest, Ill-based recreational boats and fitness equipment maker reported net sales of $789.1 million for the last three months of 2011, up 8 percent compared to the same period the previous year.

The company’s boat segment, which includes 15 brands, saw a 20 percent jump in net sales to $196.8 million.

The company reported a net loss of $29.6 million, or 33 cents per diluted share, for the fourth quarter. That compares with a net loss of $104.1 million, or $1.17 loss per diluted share, for the 2010 fourth quarter.

Brunswick said the “global economic and marine market” will remain challenging in 2012, but the company expects “solid top-line growth.”

The company projects earnings of $1.20 to $1.50 per share to $1.50 per diluted share in 2012.

Shares were up 10 cents to $21.71 in early afternoon trading.

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