Husqvarna AB last week announced third-quarter net sales of SEK 5.84 billion (about U.S. $873.3 million), a loss of 8 percent from SEK 6.41 billion in the third quarter of 2011. Operating income in the quarter increased 61 percent to SEK 182 million (U.S. $27.2 million) from SEK 113 million in the year-ago period.
For the first nine months net sales amounted to SEK 26.36 billion (U.S. $3.94 billion) from SEK 25.36 billion in the year-ago period. Operating income increased 25 percent to SEK 2.23 billion (U.S. $333.9 million) from SEK 1.79 billion.
“Demand in our two largest markets continued to be challenging during the third quarter,” said Hans Linnarson, president and CEO. “In North America, sales were negatively impacted by the worst drought conditions for many years. In Europe, demand was adversely affected by a cautious consumer sentiment and continued unfavorable weather conditions. As expected, preseason demand for seasonal products such as snow throwers was soft.
“Looking ahead, we see many of our trade partners managing their inventory levels conservatively, as the global economic uncertainty is expected to continue for 2013.”
The Husqvarna Group is a producer of outdoor power products including chainsaws, trimmers, lawn mowers and garden tractors, and cutting equipment and diamond tools for the construction and stone industries.