Briggs & Stratton earned $24.1 million, or 48 cents a share, in the three months that ended in March, down from $25.4 million, or 51 cents, as the result of a $31 million payment to settle lawsuits claiming Briggs and other firms overstated horsepower ratings. The company would have made 85 cents a share without the lawsuit. Briggs denied wrongdoing but agreed to change how it rates the power of engines. Briggs' sales rose 3% to $694.6 million from $673.8 million.

Related Summaries