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Thursday, July 28, 2011 10:47:23 AM
* Company raises 2011 EPS outlook to $0.60-$0.75
* Shipments of boats and marine engines strong (Adds details in paragraphs 6-10)
NEW YORK, July 28 (Reuters) - Recreational products maker Brunswick Corp's (BC.N) quarterly profit tripled on higher marine wholesale shipments and raised its 2011 profit outlook.
The company, which makes recreational boats and marine engines, billiard tables and fitness equipment, said on Thursday its profit rose to $69.3 million, or 75 cents a share, from $13.7 million, or 15 cents a share, a year earlier.
Profit in 2011 includes a gain of 2 cents a share from special tax items.
Sales in the quarter increased 8 percent to $1.10 billion.
The company, which also owns and operates Brunswick bowling family entertainment centers, forecast 2011 profit of 60 cents to 75 cents a share, up from its prior forecast of 30 to 50 cents a share.
"We continue to believe that the significant decline in overall industry marine retail demand bottomed in 2010," Brunswick Chief Executive Dustan McCoy said in a statement.
In the company's most recent quarter, marine engine sales were up 7 percent while the boat segment was up 10 percent.
Wholesale shipments and retail sales were strong, the company said.
The company also benefited from the closing of plants last year. (Reporting by A. Ananthalakshmi; Editing by Derek Caney)
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