Husqvarna, a leading producer of outdoor lawn equipment with a plant in Orangeburg, reported company-wide net sales for 2006 rose to $28,768 million in 2006 and income for 2006 rose to $1.641 million.
Husqvarna’s operating income for the fourth quarter increased to 327 million, and margin improved to 6.5 percent.
The company’s professional products division reported higher sales, improved operating income and margin for the quarter as well as the full year.
The consumer products division achieved higher operating income and margin for the full year, despite lower demand for garden products.
The Husqvarna board also has proposed a bonus issue and authorization for the issuance of new shares.
The Husqvarna Board of Directors proposes the annual general meeting on 19 April 2007 resolves on a bonus issue of 88,877,745 A-shares.
The bonus issue will increase the share capital by SEK (Swedish currency) 177,755,490, which will be obtained through re-allocation of funds from unrestricted equity according to the most recently adopted balance sheet.
The record date proposed for the bonus issue is 16 May 2007.
The last day of trading in the Husqvarna share including the right to participate in the bonus issue will then be 11 May 2007. The first day of trading excluding this right will be 14 May 2007.
Husqvarna is the world’s largest producer of lawn mowers, chainsaws and portable petrol-powered garden equipment such as trimmers and blowers.
The group is also a world leader in diamond tools and cutting equipment for the construction and stone industries.
Net sales in 2005 were SEK 28.8 billion and the average number of employees was 11,700.