Corporate and Financial
Brunswick CEO Sees Growth, Affirms 2005 Earnings Estimates at Miami Boat Show Event
LAKE FOREST, Ill., Feb 16, 2005 /PRNewswire-FirstCall via COMTEX/ -- Brunswick Corporation
(NYSE: BC) Chairman and Chief Executive Officer George W. Buckley will today
encapsulate the company's strategy and reconfirm its earnings estimates for
2005 while speaking with analysts and investors at a company-sponsored event
in Miami, which is hosting the annual Miami International Boat Show.
In his presentation, Buckley states that Brunswick will continue to pursue
a "customer-led strategy" for growth, emphasizing innovation and technology as
well as focusing on operations excellence and financial discipline.
Buckley adds that Brunswick will blend organic growth and select
acquisitions with efforts to reduce costs and improve efficiencies to grow
both sales and earnings to further its position as "the world's pre-eminent
company in all its core business segments." Brunswick is the world's largest
maker of pleasure boats, marine engines and electronics, commercial fitness
equipment, bowling and billiards products.
Since 2000, when he assumed his current responsibilities, Buckley explains
that Brunswick has maintained two primary strategic thrusts -- get the product
right across all lines and get the distribution right across all lines. To
support these efforts, Brunswick has executed a number of initiatives that
have "delivered rapid growth, and we believe irrevocable change" in its
industries.
That evolution will continue as Brunswick in 2005 begins to instill
various process improvements aimed at both better integrating product
development and applying rigorous systems engineering efforts to build in
quality and enhance reliability by eliminating or better engineering
interfaces, junctures where products most likely fail. This approach is being
applied to the company's sizable boat and engine operations to bring together
boat design, propulsion, electronics and entertainment to work as one --
"everything designed together to work together" -- to make boating simpler,
more enjoyable and more affordable.
Buckley will point to Brunswick's accomplishments and plans, along with
favorable market and demographic data, to reconfirm Brunswick's previously
announced earnings estimates for the year of $3.15 to $3.30 per share for
2005, up from the $2.77 EPS reported for 2004. Buckley states that the
company bases its estimate on the assumption that the marine industry will be
up 5 to 6 percent at retail, which will drive Brunswick's organic sales growth
to be up between 11 to 12 percent for 2005, with operating margin improvement
of between 70 to 100 basis points.
About Brunswick
Headquartered in Lake Forest, Ill., Brunswick Corporation endeavors to
instill "Genuine Ingenuity"(TM) in all its leading consumer brands, including
Mercury and Mariner outboard engines; Mercury MerCruiser sterndrives and
inboard engines; MotorGuide trolling motors; Teignbridge propellers; MotoTron
electronic controls; Northstar marine electronics; Navman marine and GPS-based
products; IDS dealer management systems; Sea Ray, Bayliner, Maxum, Hatteras,
Meridian, Sealine, Bermuda, Ornvik, Quicksilver, Savage and Uttern pleasure
boats; Baja high-performance boats; Arvor, Boston Whaler, Palmetto, Sea Boss,
Sea Pro and Trophy offshore fishing boats; Crestliner, Lowe, Lund and
Princecraft aluminum fishing, deck and pontoon boats; Attwood marine parts and
accessories; Land 'N' Sea marine parts and accessories distributor; Life
Fitness, Hammer Strength and ParaBody fitness equipment; Brunswick bowling
centers, equipment and consumer products; Brunswick billiards tables; and
Valley-Dynamo pool, Air Hockey and foosball tables. For more information,
visit http://www.brunswick.com .
SOURCE Brunswick Corporation
Dan Kubera, Director - Public and Financial Relations of Brunswick Corporation,
1-847-735-4617
