Brunswick sinks on cutback charges: Potash profit triples; Old Republic swings to loss

Via Acquire Media NewsEdge) Jul. 25--Brunswick Corp., hit by charges related to the company's efforts to cut production in response to sluggish market conditions, reported a second-quarter loss Thursday on sales that slipped 2 percent. The Lake Forest-based maker of boats, marine engines and other recreational products said it had a net loss of $6.0 million, or 7 cents a diluted share, compared with the year-ago quarter's net income of $57.3 million, or 63 cents a share. Sales fell to $1.49 billion, from $1.52 billion, although it did surpass analyst expectations. Brunswick, the nation's leading maker of motor boats, has been hard hit by the U.S. economy's downturn. Sales of such big-ticket products, used for fun rather than necessity, are among the first purchases consumers cut off when economic turbulence arrives. The... [read full story]