Brunswick Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported net sales of $829.8 million compared to $761.5 million a year ago. Operating earnings were $7 million compared to operating loss of $13.4 million a year ago. Loss before income taxes were $12.5 million compared to $38.2 million a year ago. Loss from continuing operations were $16.1 million or $0.18 per diluted share compared to $25.4 million or $0.28 per diluted share a year ago. Net loss was $75.3 million or $0.84 per diluted share compared to $29.6 million or $0.33 per diluted share a year ago.

For the year, the company reported net sales of $3,717.6 million compared to $3,670.0 million a year ago. Operating earnings were $264.1 million compared to $213.7 million a year ago. Earnings before income taxes were $181 million compared to $110.7 million a year ago. Net earnings from continuing operations were $147.4 million or $1.59 per diluted share compared to $90.6 million or $0.98 per diluted share a year ago. Net earnings was $50.0 million or $0.54 per diluted share compared to $71.9 million or $0.78 per diluted share a year ago. Net cash provided by operating activities were $160.7 million compared to $89.1 million a year ago. Capital expenditures were $115.2 million compared to $87.1 million a year ago.

The company provided earnings guidance for the year 2013. The company is expecting 2013 diluted earnings per common share, excluding restructuring, exit and impairment charges, debt extinguishment losses and special tax items, to be in the range of $2.20 to $2.45. The company is targeting a 3% to 5% revenue growth rate in 2013, driven by the strength of global brands and contributions from the growth initiatives. The company expects net interest expense to be reduced by $13 million to $17 million, excluding extinguishment losses of $25 million to $30 million. The company's estimate for depreciation and amortization is approximately $95 million. The company expects capital expenditures to increase versus prior years as it fund growth initiatives. The company expects to maintain gross margins of approximately 25%. The company plans for an effective tax rate in the range of 16% to 18% on an as adjusted earnings basis.

For the fourth quarter of 2012, the company reported impairment charge on assets held for sale, net of tax of $53.2 million.