Brunswick loses $124 million in 4th quarter as revenue falls 22 percent

Brunswick loss widens in 4Q

LAKE FOREST, Ill. — Boat maker Brunswick Corp. said Thursday that its quarterly loss almost doubled as it sold fewer products and slashed its prices on water craft.

For the three months that ended Dec. 31, the company lost $124 million, or $1.40 per share. That compares with a loss of a year earlier of $66.3 million, or 75 cents per share.

Revenue sank 22 percent to $657.3 million, down from $837.7 million during the same period last year.

The full-year picture was graver, in part: Brunswick’s annual revenue fell 41 percent to $2.78 billion from $4.71 billion in 2008.

But the company, which also makes fitness equipment and bowling gear, lost $586.2 million, or $6.63 per share. That’s slightly better than its 2008 loss of $788.1 million, or $8.93 per share.

Analysts expected a quarterly loss of $1.32 per share on revenue of $873.4 million. Their estimates typically exclude one-time items.

Brunswick’s report didn’t exclude two one-time items from its quarterly profit: a charge of 78 cents per share and a gain of $1.20 per share.

Brunswick is based in the Chicago suburb of Lake Forest, Ill.

Its shares fell $1.19, or 9.7 percent, to $11.12 in late-afternoon trading Thursday.