Brunswick: Recovery will not come this yearPosted on
At its annual meeting Wednesday, Brunswick chairman and CEO Dustan McCoy told shareholders not to expect any meaningful economic recovery this year.
“Our company has faced more adversity than perhaps at any time in its long and storied history,” said McCoy, according to a report in Crain’s. “We’re not planning for 2009 to bring any meaningful economic recovery.”
Last week, Brunswick reported that sales fell 45 percent in the first quarter to $734.7 million, and it endured a loss of $184.2 million, or $2.08 per diluted share, compared with a year-earlier profit of $13.3 million, or 21 cents a share.