Engine manufacturer Briggs & Stratton's reported fiscal second quarter net income rose 67 percent to $41.1 million as Y2K concerns led to a spike in demand for power generators. The Milwaukee-based company also cited increased demand for engines from makers of lawn-and-garden equipment.
"Fear of Y2K-related power interruptions drove a significant portion of generator demand in 1999," the company reported. "We believe demand will recover because there are good reasons unrelated to Y2K for consumers to purchase standby generators."
Net sales for the quarter ended Dec. 31 were $422.2 million, up 17 percent from sales of $359.9 million for the same period a year ago, according to the company.