Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of “accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act. (Check one):

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No x

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.


	April 1, 2007		July 2, 2006		September 30, 2007		As Adjusted July 1, 2007
	(Unaudited)				(Unaudited)
CURRENT ASSETS:
Cash and cash equivalents	$	22,923	$	95,091	$	36,950	$	29,469
Accounts receivable, net		373,511		273,502		233,535		327,475
Inventories -
Finished products and parts		434,680		364,711		429,456		345,763
Work in process		212,455		188,358		191,466		199,215
Raw materials		9,536		8,946		7,999		7,804

Total inventories		656,671		562,015		628,921		552,782

Deferred income tax asset		68,613		58,024		55,550		55,520
Prepaid expenses and other current assets		19,071		43,020		38,389		30,547

Total current assets		1,140,789		1,031,652		993,345		995,793

OTHER ASSETS:
Goodwill		251,885		251,885		250,107		250,107
Prepaid pension		78,098		75,789		103,593		103,247
Investments		46,335		48,917		45,906		47,326
Deferred loan costs, net		3,428		4,308		4,044		3,135
Other intangible assets, net		93,027		94,596		92,089		92,556
Other long-term assets, net		7,393		6,765		6,876		6,686

Total other assets		480,166		482,260		502,615		503,057

PLANT AND EQUIPMENT:
Cost		1,008,567		1,008,164		1,023,564		1,006,402
Less - accumulated depreciation		616,564		577,876		632,008		618,084

Total plant and equipment, net		392,003		430,288		391,556		388,318

TOTAL ASSETS					$	1,887,516	$	1,887,168
	$	2,012,958	$	1,944,200


	April 1, 2007			July 2, 2006			September 30, 2007			As Adjusted July 1, 2007
	(Unaudited)						(Unaudited)
CURRENT LIABILITIES:
Accounts payable	$	158,811		$	161,291		$	155,565		$	179,476
Accrued liabilities		196,654			178,381			160,572			170,555
Dividends payable		10,908			—
Current maturity on long-term debt		116,097			—			—			116,139
Short-term debt		152,449			3,474			170,179			3,000

Total current liabilities		634,919			343,146			486,316			469,170

OTHER LIABILITIES:
Long-term debt		267,769			383,324			268,048			267,909
Deferred income tax liability		91,309			102,862			37,460			37,300
Accrued pension cost		27,276			25,587			39,878			39,438
Accrued employee benefits		16,510			16,267			20,182			20,072
Accrued postretirement health care obligation		71,384			84,136			182,979			186,868
Other long-term liabilities		2,159			1,672			36,422			20,357

Total other liabilities		476,407			613,848			584,969			571,944

SHAREHOLDERS’ INVESTMENT:
Common stock -
Authorized 120,000 shares, $.01 par value, issued 57,854 shares		579			579			579			579
Additional paid-in capital		71,480			65,126			74,933			73,149
Retained earnings		1,037,238			1,086,397			1,079,760			1,115,114
Accumulated other comprehensive income		7,401			4,960
Treasury stock at cost,
8,270 and 6,654 shares, respectively		(215,066	)		(169,856	)
Accumulated other comprehensive loss								(127,162	)		(128,951	)
Treasury stock at cost, 8,148 and 8,222 shares, respectively								(211,879	)		(213,837	)

Total shareholders’ investment		901,632			987,206			816,231			846,054

TOTAL LIABILITIES AND SHAREHOLDERS’ INVESTMENT							$	1,887,516		$	1,887,168
	$	2,012,958		$	1,944,200


	Three Months Ended						Nine Months Ended						Three Months Ended
	April 1, 2007			April 2, 2006			April 1, 2007			April 2, 2006			September 30, 2007			As Adjusted October 1, 2006
NET SALES	$	717,053		$	800,194		$	1,478,361		$	1,886,216		$	366,669		$	338,249

COST OF GOODS SOLD		596,641			619,261			1,246,223			1,506,623			323,225			291,971

IMPAIRMENT CHARGE		35,200			—			35,200			—

Gross profit on sales		85,212			180,933			196,938			379,593			43,444			46,278

ENGINEERING, SELLING, GENERAL AND ADMINISTRATIVE EXPENSES		64,289			82,743			195,463			231,742			64,140			65,682

Income from operations		20,923			98,190			1,475			147,851
Loss from operations														(20,696	)		(19,404	)

INTEREST EXPENSE		(12,688	)		(10,893	)		(33,554	)		(32,226	)		(8,973	)		(9,037	)

OTHER INCOME, net		4,798			1,508			9,176			13,995			22			3,457

Income (loss) before income taxes		13,033			88,805			(22,903	)		129,620
Loss before credit for income taxes														(29,647	)		(24,984	)

PROVISION (CREDIT) FOR INCOME TAXES		5,263			28,797			(6,725	)		43,067
CREDIT FOR INCOME TAXES														(9,195	)		(8,504	)

NET INCOME (LOSS)	$	7,770		$	60,008		$	(16,178	)	$	86,553
NET LOSS													$	(20,452	)	$	(16,480	)

EARNINGS PER SHARE DATA -

Average shares outstanding		50,621			51,478			49,795			51,633			49,536			50,583

Basic earnings (loss) per share	$	0.15		$	1.17		$	(0.32	)	$	1.68
Basic loss per share													$	(0.41	)	$	(0.33	)

Diluted average shares outstanding		50,718			51,561			49,795			51,730			49,536			50,583

Diluted earnings (loss) per share	$	0.15		$	1.16		$	(0.32	)	$	1.67
Diluted loss per share													$	(0.41	)	$	(0.33	)

CASH DIVIDENDS PER SHARE	$	0.22		$	0.22		$	0.66		$	0.66		$	0.22		$	0.22


	Nine Months Ended						Three Months Ended
	April 1, 2007			April 2, 2006			September 30, 2007			As Adjusted October 1, 2006
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	(16,178	)	$	86,553
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Net loss							$	(20,452	)	$	(16,480	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		54,766			57,389			16,612			18,154
Stock compensation expense								2,673			2,819
Earnings of unconsolidated affiliates, net of dividends		(2,247	)		811			866			2,806
Dividends received investments		4,679			—
Loss (Gain) on disposition of plant and equipment		1,690			(5,267	)
Loss on disposition of plant and equipment								467			37
Provision for deferred income taxes		(22,142	)		(14,120	)		(3,870	)		(3,937	)
Stock compensation expense		6,688			6,463
Impairment charges		35,200			—
Change in operating assets and liabilities:
Increase in accounts receivable		(100,038	)		(74,659	)
Decrease in accounts receivable								93,940			45,610
Increase in inventories		(96,156	)		(124,134	)		(76,139	)		(144,347	)
Decrease (Increase) in prepaid expenses and other current assets		16,115			(673	)
Increase in accounts payable, accrued liabilities, and income taxes		9,132			39,906
Decrease in prepaid expenses and other current assets								7,276			10,785
Decrease in accounts payable, accrued liabilities, and income taxes								(45,407	)		(20,397	)
Increase (Decrease) in accrued/prepaid pension		(620	)		8,105			53			(357	)
Other, net		(169	)		(1,886	)		(2,280	)		(2,922	)

Net cash used in operating activities		(109,280	)		(21,512	)		(26,261	)		(108,229	)

CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to plant and equipment		(45,999	)		(49,409	)		(18,246	)		(13,844	)
Proceeds received on sale of plant and equipment		583			10,836			150			262
Investment in joint venture		—			(900	)
Refund of cash paid for acquisition		—			6,347
Loan receivable		—			(2,500	)

Net cash used in investing activities		(45,416	)		(35,626	)		(18,096	)		(13,582	)

CASH FLOWS FROM FINANCING ACTIVITIES:
Net borrowings (repayments) on loans and notes payable		148,975			(2,411	)
Dividends		(22,159	)		(22,760	)
Net borrowings on loans and notes payable								51,041			118,378
Issuance cost of amended revolver								(1,286	)		—
Stock option proceeds and tax benefits		2,591			10,010			991			750
Treasury stock purchases		(48,232	)		(26,559	)		—			(48,232	)

Net cash provided by (used in) financing activities		81,175			(41,720	)
Net cash provided by financing activities								50,746			70,896

EFFECT OF FOREIGN CURRENCY EXCHANGE RATE
CHANGES ON CASH AND CASH EQUIVALENTS		1,353			800
EFFECT OF FOREIGN CURRENCY EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS								1,092			(6	)

NET DECREASE IN CASH AND CASH EQUIVALENTS		(72,168	)		(98,058	)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS								7,481			(50,921	)

CASH AND CASH EQUIVALENTS, beginning		95,091			161,573			29,469			95,091

CASH AND CASH EQUIVALENTS, ending	$	22,923		$	63,515		$	36,950		$	44,170

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest paid	$	40,046		$	38,374		$	17,151		$	15,988

Income taxes paid	$	2,379		$	36,433		$	9,357		$	644

The accompanying unaudited consolidated condensed financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission and therefore do not include all information and footnotes necessary for a fair presentation of financial position, results of operations and cash flows in conformity with accounting principles generally accepted in the United States. However, in the opinion of Briggs & Stratton Corporation (the Company), adequate disclosures have been presented to prevent the information from being misleading, and all adjustments necessary to present fair statements of the results of operations and financial position have been included. All of these adjustments are of a normal recurring nature. These consolidated condensed financial statements should be read in conjunction with the financial statements and the notes thereto which were included in our latest Annual Report on Form 10-K.

Effective July 2, 2007, the Company has changed the method it uses to compute the market related value of the assets within its qualified defined benefit pension plan. The market related value of pension assets is used to calculate the expected return on plan assets. The Company believes that the new method is preferable as it more closely approximates the fair market value of the plan assets. For the first quarter of fiscal 2008, the Company recorded pension income of $685,000 (pre-tax). Generally accepted accounting principles require that the impact of this change in accounting be applied retrospectively to all periods presented. As a result, all prior period financial statements have been adjusted to give effect to the cumulative impact of this change. The adjusted first quarter of fiscal 2007 now reflects pension income of $658,000 (pre-tax). The following financial statement items for fiscal 2007 were affected by this change in accounting principle:

Briggs & Stratton did not repurchase any common shares during the first quarter of 2008. Briggs & Stratton repurchased 1,733,200 common shares at a total cost of $48.2 million during the first quarter of fiscal 2007. No shares were repurchased during the second and third quarters of fiscal 2007. Briggs & Stratton repurchased 753,500 shares at a total cost of $26.6 million during the three months ended April 2, 2006. The timing and amount of future repurchases will depend on the market price of the stock and certain governing loan covenants.

Basic earnings per share, for each period presented, is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share, for each period presented, is computed reflecting the potential dilution that would occur if options or other contracts to issue common stock were exercised or converted into common stock at the beginning of the period.

Shares outstanding used to compute diluted earnings per share for the ~~nine-months~~quarter ended ~~April 1,~~September 30, 2007 excluded ~~152,000~~approximately 171,000 shares for restricted and deferred stock and outstanding options to purchase approximately 3,600,000 shares of common stock as their inclusion would have been anti-dilutive. ~~For the quarter and nine-months ended April 2, 2006, no restricted or deferred stock was excluded from the computation of~~Shares outstanding used to compute diluted earnings per ~~share. Outstanding~~share for the quarter ended October 1, 2006 excluded approximately 157,000 shares for restricted and deferred stock and outstanding options to purchase approximately ~~3,371,000 and 3,290,000~~3,467,000 shares of common stock for the quarter and nine-months ended April 1, 2007, respectively, were excluded. For the nine-months ended April 1, 2007 outstanding options to purchase shares were excluded from the computation of diluted earnings per share as their inclusion would have been anti-dilutive, and for the quarter ended April 1, 2007, shares were excluded from the computation as the options’ exercise price was greater than the average market price of the common shares. In the prior fiscal year for the quarter and nine-months ended April 2, 2006, outstanding options to purchase approximately 1,434,000 and 1,380,000 shares of common stock, respectively, were excluded from the computation of diluted earnings per share because the options’ exercise price was greater than the average market price of the common shares.

Comprehensive income is a more inclusive financial reporting method that includes disclosure of certain financial information that historically has not been recognized in the calculation of net income. Comprehensive income is defined as net income and other changes in shareholders’ investment from transactions and events other than with shareholders. Total comprehensive ~~income (loss)~~loss is as follows (in thousands):

The components of Accumulated Other Comprehensive Loss are as follows (in thousands):

Derivatives are recorded on the balance sheet as assets or liabilities, measured at fair value. Briggs & Stratton enters into derivative contracts designated as cash flow hedges to manage currency and certain material exposures. These instruments generally do not have a maturity of more than twelve months.

Changes in the fair value of cash flow hedges to manage its foreign currency exposure are recorded on the Consolidated Condensed Statements of Income or as a component of Accumulated Other Comprehensive ~~Income.~~Loss. The amounts included in Accumulated Other Comprehensive ~~Income~~Loss will be reclassified into income when the forecasted transactions occur. These forecasted transactions represent the exporting of products for which Briggs & Stratton will receive foreign currency and the importing of products for which it will be required to pay in a foreign currency. Changes in the fair value of all derivatives deemed to be ineffective would be recorded as either income or expense in the accompanying Consolidated Condensed Statements of Income.

Briggs & Stratton manages its exposure to fluctuation in the cost of natural gas used by its operating facilities through participation in a third party managed dollar cost averaging program linked to NYMEX futures. As a participant in the program, Briggs & Stratton hedges ~~a minimum of 50%~~approximately 50-80% of its anticipated monthly natural gas usage along with a pool of other companies. Briggs & Stratton does not hold any actual futures contracts, and actual delivery of natural gas is not required of the participants in the program. Cash settlements occur on a monthly basis based on the difference between the average dollar price of the underlying NYMEX futures held by the third party and the actual price of natural gas paid by Briggs & Stratton in the period. The fair value of the underlying NYMEX futures is reflected as an asset or liability on the accompanying Consolidated Condensed Balance Sheets. Changes in fair value are reflected as a Component of Accumulated Other Comprehensive ~~Income,~~Loss, which are reclassified into the income statement as the monthly cash settlements occur and actual natural gas is consumed.

Briggs & Stratton manages its exposure to fluctuations in the cost of copper to be used in manufacturing by entering into forward purchase contracts designated as cash flow hedges. Briggs & Stratton hedges approximately 35% of its anticipated copper usage, and the fair value of outstanding future contracts is reflected as an asset or liability on the accompanying Consolidated Condensed Balance Sheet based on NYMEX prices. Changes in fair value are reflected as a Component of Accumulated Other Comprehensive ~~Income~~Loss if the forward purchase contracts are deemed to be effective. Changes in the fair value of all derivatives deemed to be ineffective would be recorded as either income or expense in the accompanying Consolidated Condensed Statements of Income. Unrealized gains or losses associated with the forward purchase contracts are captured in inventory costs and are realized in the income statement when sales of inventory are made.

Briggs & Stratton operates two reportable business segments that are managed separately based on fundamental differences in their operations. Summarized segment data is as follows (in thousands):


	Three Months Ended						Nine Months Ended						Three Months Ended
	April 1, 2007			April 2, 2006			April 1, 2007			April 2, 2006			September 30, 2007			As Adjusted October 1, 2006
NET SALES:
Engines	$	516,067		$	597,608		$	984,681		$	1,263,938		$	208,416		$	189,596
Power Products		248,759			287,766			606,052			844,982			186,991			186,887
Inter-Segment Eliminations		(47,773	)		(85,180	)		(112,372	)		(222,704	)		(28,738	)		(38,234	)

Total	$	717,053		$	800,194		$	1,478,361		$	1,886,216
Total *													$	366,669		$	338,249

* Includes sales originating in foreign countries of													$	45,845		$	45,985

GROSS PROFIT ON SALES:
Engines	$	57,109		$	148,598		$	135,236		$	301,785		$	35,254		$	26,615
Power Products		26,016			37,490			59,746			83,466			8,025			20,253
Inter-Segment Eliminations		2,087			(5,155	)		1,956			(5,658	)		165			(590	)

Total	$	85,212		$	180,933		$	196,938		$	379,593		$	43,444		$	46,278

INCOME (LOSS) FROM OPERATIONS:
Engines	$	12,891		$	88,794		$	(5,201	)	$	133,260		$	(10,228	)	$	(21,567	)
Power Products		5,945			14,551			4,720			20,249			(10,633	)		2,753
Inter-Segment Eliminations		2,087			(5,155	)		1,956			(5,658	)		165			(590	)

Total	$	20,923		$	98,190		$	1,475		$	147,851		$	(20,696	)	$	(19,404	)

Briggs & Stratton recognizes the cost associated with its standard warranty on Engines and Power Products at the time of sale. The amount recognized is based on historical failure rates and current claim cost experience. The following is a reconciliation of the changes in accrued warranty costs for the reporting period (in thousands):


	Nine Months Ended						Three Months Ended
	April 1, 2007			April 2, 2006			September 30, 2007			October 1, 2006
Beginning balance	$	53,233		$	59,625		$	54,566		$	53,233
Payments		(26,537	)		(29,371	)		(15,935	)		(9,437	)
Provision for current year warranties		25,218			26,460			7,099			8,190
Adjustments to prior years’ warranties		1,877			(3,587	)
Adjustment to prior year’s warranties								(900	)		(1,600	)

Ending balance	$	53,791		$	53,127		$	44,830		$	50,386

Stock based compensation is calculated by estimating the fair value of incentive stock awards granted and amortizing the estimated value over the awards’ vesting period. Stock based compensation expense was ~~$1.8~~$2.7 million and ~~$6.7~~$2.8 million for the ~~quarter~~quarters ended September 30, 2007 and ~~nine-months ended April~~October 1, ~~2007,~~2006, respectively. ~~For the quarter and nine-months ended April 2, 2006, stock based compensation was $2.1 million and $6.5 million, respectively.~~

Briggs & Stratton has noncontributory, defined benefit retirement plans and postretirement plans covering certain employees. The following tables summarize the plans’ income and expense for the periods indicated (in thousands):


	Pension Benefits						Other Postretirement Benefits
	Three Months Ended						Three Months Ended						Pension Benefits Three Months Ended						Other Postretirement Benefits Three Months Ended
	April 1, 2007			April 2, 2006			April 1, 2007			April 2, 2006			September 30, 2007			As Adjusted October 1, 2006			September 30, 2007			October 1, 2006
Components of net periodic expense:
Service cost-benefits earned	$	3,272		$	3,858		$	444		$	758		$	3,623		$	3,272		$	471		$	606
Interest cost on projected benefit obligation		14,484			13,149			4,002			3,756			15,114			14,484			3,475			3,981
Expected return on plan assets		(17,099	)		(17,250	)		—			—			(20,379	)		(19,562	)		—			—
Amortization of:
Transition obligation		2			2			11			12			2			2			11			12
Prior service cost		823			823			(212	)		(157	)		822			823			(213	)		(213	)
Actuarial loss		1,335			2,563			3,334			3,948			1,141			1,243			2,682			3,560

Net periodic expense	$	2,817		$	3,145		$	7,579		$	8,317		$	323		$	262		$	6,426		$	7,946


	Pension Benefits						Other Postretirement Benefits
	Nine Months Ended						Nine Months Ended
	April 1, 2007			April 2, 2006			April 1, 2007			April 2, 2006
Components of net periodic expense:
Service cost-benefits earned	$	9,817		$	11,572		$	1,332		$	2,273
Interest cost on projected benefit obligation		43,453			39,447			12,005			11,269
Expected return on plan assets		(51,296	)		(51,749	)		—			—
Amortization of:
Transition obligation		6			6			35			35
Prior service cost		2,468			2,469			(637	)		(472	)
Actuarial loss		4,004			7,690			10,003			11,845

Net periodic expense	$	8,452		$	9,435		$	22,738		$	24,950

Briggs & Stratton is not required to, nor intends to, make any contributions to the pension plans in fiscal 2008. The Company was not required to make any contributions to the pension plans in fiscal 2007, ~~and~~but did ~~not make any contributions in~~contribute $3.0 million during the first quarter of fiscal ~~2006; however, the Company expects to contribute up to $8 million of the $12 million authorized by the Board of Directors in fiscal~~ 2007. ~~During the nine-months ended April 1, 2007, the Company contributed $8.0 million to the pension plans.~~

Briggs & Stratton expects to make benefit payments of approximately ~~$1.5~~$1.7 million ~~for~~attributable to its non-qualified pension plans during fiscal ~~2007.~~2008. During the ~~nine-months ended April 1, 2007,~~first quarter of fiscal 2008, Briggs & Stratton made payments of approximately ~~$1.3~~$0.3 million for its non-qualified pension plans. Briggs & Stratton anticipates making benefit payments of approximately ~~$33.3~~$30.6 million for its other postretirement benefit plans during fiscal ~~2007.~~2008. During the ~~nine-months ended April 1, 2007,~~first quarter of fiscal 2008, Briggs & Stratton had made payments of ~~$25.0~~$7.6 million for its other postretirement benefit plans.

~~On July 13, 2006,~~In February 2007, the FASB issued ~~Interpretation~~SFAS No. ~~48, “Accounting~~159, “The Fair Value Option for ~~Uncertainty in Income Taxes –~~Financial Assets and Financial Liabilities—Including an ~~interpretation~~Amendment of FASB Statement No. ~~109”~~115,” (SFAS 159). ~~Interpretation 48 clarifies~~This standard permits an entity to choose to measure many financial instruments and certain other items at fair value. The fair value option permits a company to choose to measure eligible items at fair value at specified election dates. A company will report unrealized gains and losses on items for which the ~~accounting for uncertainty~~fair value option has been elected in ~~income taxes recognized in an entity’s financial statements in accordance with FASB~~earnings after adoption. Statement ~~No. 109 and prescribes a standard methodology for financial statement disclosure of tax positions taken or expected to be taken on a tax return. Interpretation 48~~159 is effective for fiscal years beginning after ~~December~~November 15, ~~2006, with early adoption permitted.~~2007. At this time, the impact of adoption of ~~Interpretation 48~~SFAS 159 on our consolidated financial position is being assessed.

OnIn September ~~15,~~ 2006, the FASB issued SFAS No. 157, “Fair Value Measurements,” (SFAS 157), which defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. SFAS ~~No.~~ 157 is effective for fiscal years beginning after November 15, 2007. At this time, the impact of adoption of SFAS ~~No.157~~157 on our consolidated financial position is being assessed.

OnIn September ~~29,~~ 2006, the FASB issued SFAS No. 158, “Employers’ Accounting for Defined Benefit Pension and Other Postretirement ~~Plans”~~Plans - an amendment of FASB Statements No. 87, 88, 106, and 132(R),” (SFAS 158). ~~Effective~~SFAS 158 requires recognition of the overfunded or underfunded status of a postretirement benefit plan in the statement of financial position, as well as recognition of changes in that funded status through comprehensive income in the year in which they occur. SFAS 158 also requires a change in the measurement of a plan’s assets and benefit obligations as of the end date of the employer’s fiscal year. SFAS 158 is effective for fiscal years ending after December 15, 2006, except for the measurement date provisions, which are effective for fiscal years ending after December 15, 2008. Briggs & Stratton adopted the SFAS ~~No.~~ 158 requires the recognition of a net liability or asset on the balance sheet to reflect the funded status of defined benefit pension and other postretirement benefit plans. Adoption of SFAS No. 158 will be on a prospective basis and is expected to occur duringin the fourth quarter of ~~the~~ fiscal 2007. ~~Based upon our review,~~

The Company adopted FASB Interpretation No. 48, “Accounting for Uncertainty in Income Taxes - - an Interpretation of FASB Statement No. 109” (FIN 48) on July 2, 2007. FIN 48 clarifies the accounting and reporting for uncertainties in income tax law. This Interpretation prescribes a comprehensive model for the financial statement recognition, measurement, presentation and disclosure of uncertain tax positions taken or expected to be taken in income tax returns. The cumulative effect of adopting FIN 48 was an increase of $4 million in tax reserves and a decrease of $4 million to the July 2, 2007 retained earnings balance.

As of July 2, 2007, the Company had SFAS No. 158 been adopted as of the end of fiscal 2006, Pension and Other Postretirement liabilities would have increased $205 million with a corresponding decrease in equity of $125 million, net of $80$23 million of ~~deferred taxes.~~gross unrecognized tax benefits. Of this amount, $15 million represents the portion that, if recognized, would impact the effective tax rate. The ~~adoption~~Company recognizes interest and penalties related to unrecognized tax benefits in income tax expense. As of ~~SFAS No. 158~~July 2, 2007, the Company had $6 million accrued for interest and penalties. We do not anticipate that there will ~~not have any impact on~~be a significant change in the ~~company’s Consolidated Condensed Statement~~amount of ~~Cash Flows.~~unrecognized tax benefits in the next twelve months.

The Company files income tax returns in the U.S. federal and various state and foreign jurisdictions. In the U.S., the Company is no longer subject to U.S. federal income tax examinations by tax authorities before 2003 and is currently under examination by the IRS for taxable years ending in 2004 and 2005. With respect to our major foreign jurisdictions, we are no longer subject to tax examinations by tax authorities before 1997.

~~Briggs & Stratton~~The Company is subject to various unresolved legal actions that arise in the normal course of its business. These actions typically relate to product liability (including asbestos-related liability), patent and trademark matters, and disputes with customers, suppliers, distributors and dealers, competitors and employees.

On June 3, 2004, eight individuals who claim to have purchased lawnmowers in Illinois and Minnesota filed a lawsuit (~~Ronnie~~(Ronnie Phillips et al. v. Sears Roebuck Corporation et al., No. 04-L-334 (20th Judicial Circuit, St. Clair County, IL)) against ~~Briggs & Stratton~~the Company and other defendants alleging that the horsepower labels on the products they purchased were inaccurate. The plaintiffs have amended their complaint several times and currently seek an injunction, compensatory and punitive damages, and attorneys’ fees under various federal and state laws including the Racketeer Influenced and Corrupt Organization Act on behalf of all persons in the United States who, beginning January 1, 1994 through the present, purchased a lawnmower containing a two-stroke or four-stroke gasoline combustion engine up to 30 horsepower that was manufactured by the defendants. On May 31, 2006, the defendants removed the case to the U.S. District Court for the Southern District of Illinois (No. 06-412-DRH). The defendants subsequently filed cross claims against each other for indemnification and contribution, and filed a motion to dismiss the amended complaint. On March 30, 2007, the Court issued an order granting the defendants’ motion to dismiss the amended complaint in its entirety, but the order permits the plaintiffs to ~~refile~~re-file a complaint after amending several claims. An opinion of the Court providing more detail concerning its order is expected but has not yet been filed. Two defendants, MTD Products, Inc. and American Honda Motor Company, have notified the Court that they have reached a settlement with the putative plaintiff class, but neither defendant’s agreement has yet been approved by the Court.

Although it is not possible to predict with certainty the outcome of these unresolved legal actions or the range of possible loss, ~~Briggs & Stratton~~the Company believes these unresolved legal actions will not have a material effect on its financial position.

Impairment charges were recognized in the Consolidated Condensed ~~Statement~~Statements of Income for ~~$35.2~~$43.1 million pretax ($~~21.4~~26.2 million after tax) during ~~the third quarter~~fiscal 2007, of ~~fiscal 2007. The $35.2~~which $33.9 and $9.2 million ~~pretax write-down of assets was~~were recognized in the Engines and Power Products Segments, ~~for~~respectively. The entire $33.9 million was recognized in the third

quarter of fiscal 2007 and $1.3 million and $7.9 million of the $9.2 million were recognized in the third and fourth quarter of fiscal 2007, respectively. The Engines ~~Segment’s~~Segment $33.9 million charge was primarily for the write-down of assets of ~~a major~~the Rolla, Missouri (Rolla) engine manufacturing facility ~~in the United States~~ that will be ~~closing in~~closed during the second quarter of fiscal 2008. The ~~remaining $1.3~~$9.2 million ~~for~~recognized in the Power Products Segment ~~was for a write-down~~primarily relates to the closure of ~~assets at an international manufacturing site.~~the Port Washington, Wisconsin production facility expected to be completed in the second quarter of fiscal 2009. For each segment, it was determined that the carrying value of the assets exceeded the undiscounted cash flows. The impairment was computed as the difference between estimated fair value and the carrying value of the assets. Fair value was determined based on market prices for comparable assets.

Additionally, a liability was recorded within costs of goods sold to accrue for severance payments to be paid to the employees of the Rolla facility upon its close. Accrued severance at July 1, 2007 was approximately $1.1 million, all of which was recorded in the fourth quarter of fiscal 2007. Another approximately $1.3 million was accrued in the first quarter of fiscal 2008, and approximately $0.4 million was paid in the first quarter of fiscal 2008, resulting in a total accrual of approximately $2.0 million at September 30, 2007. Severance payments are contingent upon an employee working through the scheduled end date, and will continue to accrue until the plant closes.

In June 1997, Briggs & Stratton issued $100 million of 7.25% senior ~~notes;~~notes, in May 2001, Briggs & Stratton issued $275 million of 8.875% senior ~~notes;~~notes and in February 2005, Briggs & Stratton issued $125 million of variable rate term notes. In addition, Briggs & Stratton ~~has~~had a $350 million revolving credit facility ~~that expires in May 2009 that is~~ used to finance seasonal working capital ~~needs.~~needs that was to expire in May 2009.

On July 12, 2007, the Company entered into a $500 million amended and restated multicurrency credit agreement. The Amended Credit Agreement (“Revolver”) provides a revolving credit facility for up to $500 million in revolving loans, including up to $25 million in swing-line loans. The Company used the proceeds of the Revolver to, among other things, pay off the remaining amount outstanding under the Company’s variable rate term notes issued in February 2005 with various financial institutions and retire the 7.25% senior notes that were due in September 2007. The Revolver has a term of five years and all outstanding borrowings on the Revolver are due and payable on July 12, 2012. The Revolver contains covenants that the Company considers usual and customary for an agreement of this type, including a Maximum Total Leverage Ratio and Minimum Interest Coverage Ratio. Certain of the Company’s subsidiaries are required to be guarantors of the Company’s obligations under the Revolver.

Under the terms of Briggs & Stratton’s 8.875% senior notes, 7.25% senior notes, variable rate term notes, and the ~~revolving credit agreement~~Revolver (collectively, the “Domestic Indebtedness”), Briggs & Stratton Power Products Group, LLC and its wholly owned subsidiary, Simplicity Manufacturing, Inc., are joint and several guarantors of the Domestic Indebtedness (the “Guarantor”). The guarantees are full and unconditional guarantees. Additionally, if at any time a domestic subsidiary of Briggs & Stratton constitutes a significant domestic subsidiary, then such domestic subsidiary will also become a guarantor of the Domestic Indebtedness. Currently, all of the Domestic Indebtedness is unsecured. If Briggs & Stratton were to fail to make a payment of

interest or principal on its due date, the Guarantor is obligated to pay the outstanding Domestic Indebtedness. Briggs & Stratton had the following outstanding amounts related to the guaranteed debt (in thousands):

The following condensed supplemental consolidating financial information reflects the summarized financial information of Briggs & Stratton, its Guarantor and Non-Guarantor Subsidiaries (in thousands):


	Briggs & Stratton Corporation		Guarantor Subsidiary		Non-Guarantor Subsidiaries		Eliminations			Consolidated		Briggs & Stratton Corporation		Guarantor Subsidiary		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Current assets	$	715,429	$	814,903	$	198,119	$	(587,662	)	$	1,140,789	$	603,147	$	815,274	$	181,291	$	(606,367	)	$	993,345
Investment in subsidiaries		800,266		—		—		(800,266	)		—		787,435		—		—		(787,435	)		—
Non-current assets		397,349		443,136		31,684		—			872,169		413,819		444,475		35,877		—			894,171

	$	1,913,044	$	1,258,039	$	229,803	$	(1,387,928	)	$	2,012,958	$	1,804,401	$	1,259,749	$	217,168	$	(1,393,802	)	$	1,887,516

Current liabilities	$	622,381	$	434,835	$	151,479	$	(573,776	)	$	634,919	$	488,253	$	445,205	$	143,966	$	(591,108	)	$	486,316
Long-term debt		267,769		—		—		—			267,769		268,048		—		—		—			268,048
Other long-term obligations		107,376		100,910		352		—			208,638		216,610		99,894		417		—			316,921
Shareholders’ investment		915,518		722,294		77,972		(814,152	)		901,632		831,490		714,650		72,785		(802,694	)		816,231

	$	1,913,044	$	1,258,039	$	229,803	$	(1,387,928	)	$	2,012,958	$	1,804,401	$	1,259,749	$	217,168	$	(1,393,802	)	$	1,887,516


	Briggs & Stratton Corporation		Guarantor Subsidiary		Non-Guarantor Subsidiaries		Eliminations			Consolidated		Briggs & Stratton Corporation		Guarantor Subsidiary		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Current assets	$	536,849	$	694,535	$	191,913	$	(391,645	)	$	1,031,652	$	566,656	$	833,255	$	176,817	$	(580,935	)	$	995,793
Investment in subsidiaries		794,317		—		—		(794,317	)		—		793,747		—		—		(793,747	)		—
Non-current assets		451,150		442,853		18,545		—			912,548		418,213		438,506		34,656		—			891,375

	$	1,782,316	$	1,137,388	$	210,458	$	(1,185,962	)	$	1,944,200	$	1,778,616	$	1,271,761	$	211,473	$	(1,374,682	)	$	1,887,168

Current liabilities	$	265,185	$	317,133	$	137,325	$	(376,497	)	$	343,146	$	443,188	$	449,475	$	140,043	$	(563,536	)	$	469,170
Long-term debt		383,324		—		—		—			383,324		267,909		—		—		—			267,909
Other long-term obligations		131,453		98,729		342		—			230,524		204,066		99,571		398		—			304,035
Shareholders’ investment		1,002,354		721,526		72,791		(809,465	)		987,206		863,453		722,715		71,032		(811,146	)		846,054

	$	1,782,316	$	1,137,388	$	210,458	$	(1,185,962	)	$	1,944,200	$	1,778,616	$	1,271,761	$	211,473	$	(1,374,682	)	$	1,887,168


	Briggs & Stratton Corporation			Guarantor Subsidiary			Non-Guarantor Subsidiaries			Eliminations			Consolidated			Briggs & Stratton Corporation			Guarantor Subsidiary			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	1,225,233		$	832,690		$	146,063		$	(317,770	)	$	1,886,216		$	180,185		$	181,487		$	45,985		$	(69,408	)	$	338,249
Cost of goods sold		943,727			753,708			119,184			(309,996	)		1,506,623			156,268			164,524			38,358			(67,179	)		291,971

Gross profit		281,506			78,982			26,879			(7,774	)		379,593			23,917			16,963			7,627			(2,229	)		46,278
Engineering, selling, general and administrative expenses		146,384			60,323			25,035			—			231,742			40,319			16,794			8,569			—			65,682

Income (Loss) from operations		135,122			18,659			1,844			(7,774	)		147,851			(16,402	)		169			(942	)		(2,229	)		(19,404	)
Interest expense		(35,515	)		(42	)		(185	)		3,516			(32,226	)		(9,584	)		(5	)		(70	)		622			(9,037	)
Other income (expense), net		23,652			4,482			(1,385	)		(12,754	)		13,995			857			954			(158	)		1,804			3,457

Income (Loss) before income taxes		123,259			23,099			274			(17,012	)		129,620			(25,129	)		1,118			(1,170	)		197			(24,984	)
Provision (Credit) for income taxes		40,922			6,262			99			(4,216	)		43,067			(8,554	)		4			141			(95	)		(8,504	)

Net income (loss)	$	82,337		$	16,837		$	175		$	(12,796	)	$	86,553		$	(16,575	)	$	1,114		$	(1,311	)	$	292		$	(16,480	)


	Briggs & Stratton Corporation			Guarantor Subsidiary			Non-Guarantor Subsidiaries			Eliminations			Consolidated			Briggs & Stratton Corporation			Guarantor Subsidiary			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net Cash Provided by (Used in) Operating Activities	$	(156,058	)	$	41,545		$	(6,420	)	$	11,653		$	(109,280	)	$	(44,313	)	$	11,641		$	5,712		$	699		$	(26,261	)

Cash Flows from Investing Activities:
Additions to plant and equipment		(18,997	)		(12,902	)		(14,100	)		—			(45,999	)		(6,807	)		(10,537	)		(902	)		—			(18,246	)
Proceeds received on sale of plant and equipment		472			52			59						583			40			82			28			—			150
Cash investment in subsidiary		(381	)		—			(1,319	)		1,700			—			(383	)		—			—			383			—

Net Cash Provided by (Used in) Investing Activities		(18,906	)		(12,850	)		(15,360	)		1,700			(45,416	)
Net Cash Used in Investing Activities																	(7,150	)		(10,455	)		(874	)		383			(18,096	)

Cash Flows from Financing Activities:
Net borrowings (repayments) on loans and notes payable		187,618			(35,554	)		8,564			(11,653	)		148,975
Dividends		(22,159	)		—			—			—			(22,159	)
Net borrowings on loans and notes payable																	47,852			2,228			1,660			(699	)		51,041
Issuance cost of amended revolver																	(1,286	)		—			—			—			(1,286	)
Stock option proceeds and tax benefits		2,591			—			—			—			2,591			991			—			—			—			991
Treasury stock purchases		(48,232	)		—			—			—			(48,232	)
Capital contributions received		—			382			1,318			(1,700	)		—			—			383			—			(383	)		—

Net Cash Provided by (Used in) Financing Activities		119,818			(35,172	)		9,882			(13,353	)		81,175
Net Cash Provided by Financing Activities																	47,557			2,611			1,660			(1,082	)		50,746

Effect of Foreign Currency Exchange Rate Changes on Cash and Cash Equivalents		(2	)		—			1,355			—			1,353			—			—			1,092			—			1,092

Net Increase (Decrease) in Cash and Cash Equivalents		(55,148	)		(6,477	)		(10,543	)		—			(72,168	)		(3,906	)		3,797			7,590			—			7,481
Cash and Cash Equivalents, Beginning		57,623			6,812			30,656			—			95,091			8,785			(1,402	)		22,086			—			29,469

Cash and Cash Equivalents, Ending	$	2,475		$	335		$	20,113		$	—		$	22,923		$	4,879		$	2,395		$	29,676		$	—		$	36,950


	Briggs & Stratton Corporation			Guarantor Subsidiary			Non-Guarantor Subsidiaries			Eliminations			Consolidated			Briggs & Stratton Corporation			Guarantor Subsidiary			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net Cash Provided by (Used in)
Operating Activities	$	15,351		$	(54,083	)	$	5,363		$	11,857		$	(21,512	)
Net Cash Provided by (Used in) Operating Activities																$	(163,547	)	$	48,656		$	(2,251	)	$	8,913		$	(108,229	)

Cash Flows from Investing Activities:
Additions to plant and equipment		(35,058	)		(11,529	)		(2,822	)		—			(49,409	)		(7,075	)		(2,661	)		(4,108	)		—			(13,844	)
Proceeds received on sale of plant and equipment		10,761			46			29			—			10,836			223			31			8			—			262
Cash investment in subsidiary		(391	)		—			9			382			—
Investment in joint venture		(900	)		—			—			—			(900	)
Refund of cash paid for acquisition		—			6,347			—			—			6,347
Loan receivable		(2,500	)		—			—			—			(2,500	)
Capital contributions to subsidiary																	(383	)		—			(148	)		531			—

Net Cash Provided by (Used in) Investing Activities		(28,088	)		(5,136	)		(2,784	)		382			(35,626	)
Net Cash Used in Investing Activities																	(7,235	)		(2,630	)		(4,248	)		531			(13,582	)

Cash Flows from Financing Activities:
Net borrowings (repayments) on loans and notes payable		(62,422	)		57,457			14,410			(11,856	)		(2,411	)		169,236			(48,591	)		6,165			(8,432	)		118,378
Dividends		(22,760	)		—			—			—			(22,760	)		—			—			481			(481	)		—
Stock option proceeds and tax benefits		10,010			—			—			—			10,010			750			—			—			—			750
Treasury stock purchases		(26,559	)											(26,559	)		(48,232	)					—			—			(48,232	)
Capital contributions received		—			383			—			(383	)		—			—			383			148			(531	)		—

Net Cash Provided by (Used in) Financing Activities		(101,731	)		57,840			14,410			(12,239	)		(41,720	)		121,754			(48,208	)		6,794			(9,444	)		70,896

Effect of Foreign Currency Exchange Rate
Changes on Cash and Cash Equivalents		—			—			800			—			800
Effect of Foreign Currency Exchange Rate Changes on Cash and Cash Equivalents																	—			—			(6	)		—			(6	)

Net Increase (Decrease) in Cash and Cash Equivalents		(114,468	)		(1,379	)		17,789			—			(98,058	)		(49,028	)		(2,182	)		289			—			(50,921	)
Cash and Cash Equivalents, Beginning		143,034			6,376			12,163			—			161,573			57,623			6,812			30,656			—			95,091

Cash and Cash Equivalents, Ending	$	28,566		$	4,997		$	29,952		$	—		$	63,515		$	8,595		$	4,630		$	30,945		$	—		$	44,170

~~ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS~~

The following is management’s discussion and analysis of Briggs & Stratton’s financial condition and results of operations for the periods included in the accompanying consolidated condensed financial statements:

Consolidated net sales for the ~~third~~first quarter of fiscal ~~2007~~2008 totaled ~~$717~~$367 million, ~~a decrease~~an increase of ~~$83~~$28 million or ~~10%~~8% when compared to fiscal ~~2006.~~2007.

~~Third~~First quarter net sales for the Engines Segment were ~~$516~~$208 million versus ~~$598~~$190 million in fiscal ~~2006, a decrease~~2007, an increase of ~~$82~~$18 million or ~~14%~~10%. ~~The decrease in net sales primarily resulted from a 14% reduction in~~This increase reflects 5% greater engine unit shipments ~~in the third quarter of fiscal 2007 as~~ compared to the same period ~~last~~a year ~~with approximately 60%~~ago. The increase in engine unit volume was attributable to good late season sell-through in certain regions of ~~this reduction in shipments occurring in~~ the United States. The ~~reduction in engine shipments is attributed to several factors including the portable generator market. In fiscal 2006, portable generator manufacturers were building~~sell-through, coupled with lower retail and OEM inventories ~~in advance of the hurricane season; however, in fiscal 2007, the absence of significant landed hurricanes~~and improved demand, resulted in ~~adequate portable generator inventories at both OEMs and retailers.~~replenishment orders for engines, a situation that did not exist in the first quarter a year ago. The majority of the remainder of the ~~decrease in sales volumes is attributed~~improvement was attributable to ~~lower market share in the European market as some engine business has shifted to competitors.~~favorable Euro exchange rates.

~~Third~~First quarter fiscal ~~2007~~2008 Power Products Segment net sales were ~~$249 million, a decrease of $39 million or 14% from fiscal 2006. Portable generator unit shipments were lower by approximately 42% during~~similar to the ~~third~~first quarter of ~~fiscal~~ 2007 ~~as retailers have adequate inventories for the beginning~~at $187 million. While total segment net sales were consistent between years, shipments of the upcoming storm season. Partially offsetting the decline from portable generators, pressure washer unit shipments increased 17% as a result of increased retail sell-through at new and existing customers. Lawnlawn and garden equipment ~~sales during the third quarter of fiscal 2007~~ were lower primarily as a result of decreased shipments to major retailers due to reduced product placement as compared to fiscal 2006. Lower Murray branded product shipments associated with product placement represent nearly 40% of the reduction in net sales for the Power Products Segment during the third quarter of fiscal 2007.

~~Consolidated net sales for the first nine-months of fiscal 2007 totaled $1,478 million, a decrease of $408 million or 22%, compared to the first nine-months of last year.~~

Engines Segment net sales for the first nine-months of fiscal 2007 were $985 million, a decrease of $279 million or 22% from fiscal 2006. Reduced sales during the first nine-months of fiscal 2007 resulted from a decline in engine unit shipments of approximately 23% with approximately 85% of this reduction in shipments occurring in the United States. The reduction in unit shipments was the result of several factors, which have led to lower original equipment manufacturer (OEM) demand for engines. The first factor was the absence of significant landed hurricanes during fiscal 2007. The absence of significant landed hurricanes in fiscal 2007 limited portable generator demand from OEMs and retailers as inventory levels remain adequate in their respective distribution channels. The second factor was a shift in lawn and garden OEM production schedules to later in the season. The third factor is the lower market share in Europe as some engine business shifted to competitors. These factors have negatively impacted both unit volumes and segment net sales for the nine-months of fiscal 2007 as compared to fiscal 2006.

~~Power Products Segment net sales for the first nine-months of fiscal 2007 were $606 million versus $845 million in~~12% greater than the prior year ~~a decrease of $239 million or 28%. Unit shipments of generators declined over 52%~~due to increased orders from dealers needing to replenish inventories due to demand during the summer months. Sales of portable generators were down approximately 47% from the same period a year ago. Both the current and last year’s first ~~nine-months~~quarters lacked demand created by landed-hurricanes. However, last year’s first quarter did have the benefit of ~~fiscal 2007, and~~some generator replenishment demand created by tax holiday sales in Florida, while this year’s demand from the ~~decline in segment net sales associated with generators~~

tax holiday event was ~~approximately 59%. The remainder of the decrease primarily resulted from reduced net sales of $97 million for Murray branded product due to reduced product placement.~~negligible.

The consolidated gross profit margin in the ~~third~~first quarter of fiscal ~~2007~~2008 decreased to ~~11.9%~~11.8% from ~~22.6%~~13.7% in the same period last year.

Engines Segment margins ~~decreased~~increased to ~~11.1~~16.9% in the first quarter of fiscal 2008 from 14.0 % in the ~~third~~first quarter of fiscal ~~2007 from 24.9 %~~2007. The margin improvement is due to favorable foreign currency exchange rate changes (primarily the Euro) and planned lower spending in manufacturing expense categories, offset by $4.0 million of expenses related to the ~~third quarter of fiscal 2006. Nearly 50%~~planned closure of the decline in gross profit margin during the third quarter of fiscal 2007 is primarily attributed to the $34 million write-down of assets associated with the rationalization of a major operating plant in the United States. The remaining decline in gross profit margins is attributed primarily to the combination of reduced fixed cost absorption associated with lower production levels and higher material costs experienced during the fiscal 2007 third quarter. Decreased engine production was due primarily to diminished engine demand for the production of portable generators and reduced production in an effort to reduce engine inventories. In addition, the increase in the costs of commodities such as aluminum and zinc and other components used to manufacture engines led to higher material costs.Rolla facility.

The Power Products Segment gross profit margin decreased to ~~10.5 %~~4.3% for the ~~third~~first quarter of fiscal ~~2007~~2008 from ~~13.0~~10.8 % in the ~~third~~first quarter of fiscal ~~2006. For the third quarter, the impact~~2007. This margin decline is a result of ~~reduced landed hurricane activity in fiscal 2007 as compared to fiscal 2006 has resulted in adequate inventories in the Power Products segment and in the retail distribution channel. Consequently,~~lower production ~~levels~~volumes of portable generators, ~~are lower~~increased cost related to components purchased in Euros and ~~fixed cost absorption remains unfavorable resulting in reduced gross profit margins during the third quarter of fiscal 2007 as compared to fiscal 2006.~~

~~The consolidated gross profit margin for the nine-month period decreased to 13.3 % in fiscal 2007 from 20.1 % in fiscal 2006.~~

~~Engines Segment gross profit margin for the nine-month period decreased to 13.7 % in fiscal 2007 from 23.9 % in fiscal 2006. A $34 million write-down of assets in the third quarter of fiscal 2007~~planned initial startup costs associated with the ~~rationalization of a major operating~~previously announced new lawn equipment plant located in the United States accounts for over one-third of the decline in gross profit margin. Remaining decreases in gross profit margin are attributed primarily to increased commodity costs and reduced production levels, which resulted in unfavorable fixed cost absorption, as demand for engines from OEMs was lower. Consistent with net sales discussions, lower demand from OEMs is attributed to portable generator demand, delays in lawn and garden OEM production schedules, and reduced share in the European market.

Power Products Segment margins for the nine-month period were 9.9% in fiscal 2007 and fiscal 2006. Negative gross profit in the first nine-months of fiscal 2006 associated with the winding down of a transition supply agreement with the estate of Murray, Inc. did not occur in the first nine-months of fiscal 2007, resulting in favorable gross profit margin contributions of approximately $15 million during the first nine-months of fiscal 2007 as compared to the prior year. Increases in gross profit margin associated with Murray branded products were entirely offset by increased commodity and component costs, unfavorable mix and decreased fixed cost absorption due to decreased portable generator production.Newbern, Tennessee.

Engineering, selling, general and administrative expenses were $64 million in the ~~third~~first quarter of fiscal ~~2007, versus $83~~2008, a decrease of $2 million inor 2% from the first quarter of fiscal ~~2006. The $19 million~~2007. This decrease is primarily attributable ~~largely~~ to planned reduced marketing and advertising expenses and legal and professional ~~services of $6 million, reduced employee costs associated with salaries and benefits expenses of~~fees.

~~approximately $4 million, and reduced advertising related amounts of $4 million. Other decreases are associated with planned spending reduction efforts.~~

For the nine-months of fiscal 2007 as compared to fiscal 2006, engineering, selling, general and administrative expenses were $195 million and $232 million, respectively. The $37 million decrease resulted primarily from lower legal and professional services of $13 million, a decline in employee costs associated with salaries and benefits expenses of approximately $7 million, and reduced advertising related amounts of $7 million. Other decreases are associated with planned spending reduction efforts.

Interest expense ~~was $13 million in~~for the ~~third~~first quarter of fiscal 2007, versus $11 million in fiscal 2006. The increase resulted from higher variable interest rates between years and increased average borrowings to fund increased working capital requirements. Interest expense2008 was ~~$34 million in~~consistent with the first ~~nine-months~~quarter of ~~fiscal~~ 2007 versus $32 million in fiscal 2006. The increase in interest expense resulted from higher variable interest rates and increased average borrowings to fund increased working capital requirements during the first nine-months of fiscal 2007 as compared to fiscal 2006.at $9 million.

The effective tax ~~rate for~~rates used in the ~~third~~first quarter of fiscal ~~2007~~2008 and fiscal ~~2006 was 40.4 %~~2007 were 31.0% and ~~32.4%~~34.5%, respectively. The decrease is due to the impact of the increase inof certain tax credits available to the rate in the third quarter of fiscal 2007 as compared to fiscal 2006 resulted from changes in the forecasted fiscal 2007 results and other tax considerations. For the first nine-months of fiscal 2007 and fiscal 2006, the effective tax rate was 29.4% and 33.2%, respectively. Management expects that theCompany. The effective tax rate for the full year ~~will~~is projected to be in the range of ~~17.0%~~30% to ~~23.0%~~32%. ~~Tax rates in fiscal 2007 were impacted by the availability of tax credits relative to lower income levels.~~

Cash used in operating activities for the ~~nine-month period~~first quarter of fiscal ~~2007~~2008 was ~~$109~~$26 million as compared to ~~$22~~$108 million for fiscal ~~2006. The lower fiscal~~ 2007, cash flows from operating activities are largely the result of reduced operating earnings for both the Engines and Power Products Segments. Unfavorable working capital changes combined with reduced operating earnings were partially offset by the adjustment in cash flows from operating activities for non-cash impairment charges of $35 million.an $82 million improvement. During the first ~~nine-months~~quarter of fiscal ~~2007~~2008 changes to working capital accounts including inventory, accounts payable, and accounts receivable, resulted in a ~~$28~~$91 million ~~decrease~~increase in cash flows from operating activities as compared to the first ~~nine-months~~quarter of fiscal ~~2006.~~2007. A focus on lowering inventory levels resulted in less of an inventory build up in the first quarter of fiscal 2008, as compared to the same period a year ago. Additionally, lower production levels resulted in reduced accounts payable. The ~~changes~~change in ~~inventory accounts and~~ accounts receivable ~~are~~is a result of the timing of ~~production and shipments to OEMs. The change in accounts payable is due to the timing of payments.~~collections.

In the ~~nine-month period~~first quarter of fiscal ~~2007, there~~2008, $18 million was ~~$45 million of cash~~ used for investing activities as compared to ~~$36~~$14 million in fiscal ~~2006. During~~2007. This $4 million increase is a result of increased additions to plant and equipment, primarily related to the ~~first nine months~~new lawn equipment plant located in Newbern, Tennessee and projects in McDonough, Georgia, both of ~~fiscal 2006~~which are taking on additional capacity due to the ~~Company received cash associated with proceeds~~future closure of our Port Washington, Wisconsin facility. Additionally, capital projects are occurring in our Poplar Bluff, Missouri facility as it prepares for additional capacity from ~~a building sale and a refund~~the future closure of ~~acquisition related funds. The absence of these events in fiscal 2007 resulted in the greater use of cash for investing activities.~~our Rolla, Missouri facility.

Net cash provided by financing activities was ~~$81~~$51 million in fiscal ~~2007 versus net cash used~~2008, a $20 million decrease from the $71 million provided in the first quarter of ~~$42 million in~~ fiscal ~~2006, a change of $123 million. The increase in cash provided by financing activities~~2007. This decrease is attributable to ~~increased~~decreased net borrowings of ~~$151~~$67 million ~~to fund~~for working capital ~~requirements and repurchase treasury shares. Repurchases~~purposes, offset by the absence of treasury ~~shares~~share repurchases in fiscal ~~2007 and 2006 were~~2008. Treasury share repurchases of 1.7 million shares or $48 million ~~and $27 million, respectively. Dividends paid~~ were ~~comparable~~made during ~~both~~ the first ~~nine-months~~quarter of fiscal ~~2006 and fiscal 2007.~~

2007 whereas no treasury share repurchases were made in the first quarter of 2008.

~~Briggs & Stratton has~~On July 12, 2007, the Company entered into a ~~$350~~$500 million amended and restated multicurrency credit agreement. The Amended Credit Agreement (“Revolver”) provides a revolving credit facility for up to $500 million in revolving loans, including up to $25 million in swing-line loans. The Company used the proceeds of the Revolver to pay off the remaining amounts outstanding under the Company’s variable rate term notes issued in February 2005 with various financial institutions, retire the 7.25% senior notes that ~~expires~~were due in ~~May 2009. The credit facility is used to~~September 2007 and fund seasonal working capital requirements and other financing needs. The Revolver has a term of five years and all outstanding borrowings on the Revolver are due and payable on July 12, 2012. As of the end of the ~~third~~first quarter of fiscal ~~2007,~~2008, the unused availability of the revolving credit facility is approximately ~~$200~~$379 million. This credit facility and Briggs and Stratton’s other indebtedness contain restrictive covenants as described in ~~Note~~Notes 8 and 19 of the Notes to the Consolidated Financial Statements of the Company’s Annual Report on Form 10-K. As of the end of the ~~third~~first quarter of fiscal ~~2007,~~2008, Briggs & Stratton was in compliance with these covenants. ~~We are currently in discussions with various lenders to extend the term and the borrowing capacity of our revolving credit facility.~~

On August 10, 2006, Briggs & Stratton announced its intent to initiate repurchases of up to $120 million of its common stock through open market transactions during fiscal 2007 and fiscal 2008. The timing and

amount of actual purchases will depend upon the market price of the stock and certain governing loan covenants. As of ~~April~~September 30, 2007, approximately $48 million of common stock has been repurchased under this plan.

Management expects cash outflows for capital expenditures to be ~~between $70 million and~~approximately $80 million in fiscal ~~2007.~~2008. These anticipated expenditures provide for continued investment in equipment and new products. In fiscal 2007 and fiscal 2008, a manufacturing facility in Newbern, Tennessee will be established to produce end products for the Power Products Segment. Equipping the Newbern facility is expected to cost between $18 and $22 million, of which $6 million is expected to be spent in fiscal 2007 with the remainder spent in the subsequent year. These expenditures will be funded using available cash.

Management believes that available cash, the credit facility, cash generated from operations, existing lines of credit and access to debt markets will be adequate to fund capital requirements for the foreseeable future. During the fourth quarter of fiscal 2007 the Company expects to refinance the remaining $81 million of outstanding 7.25% senior notes. In the third quarter of fiscal 2008, the Company expects to repay the remaining $35 million of its unsecured three-year variable term loan.

~~As disclosed~~A discussion of impairment and disposal charges is included in ~~January of 2007, we continue~~the Notes to ~~evaluate and make changes to our manufacturing footprint. Location, capacity, flexibility, product demand and costs are all factors that are considered to optimize our global manufacturing operations.~~

~~As a result~~Consolidated Condensed Financial Statements of this ~~effort, we decided in~~Form 10-Q under the ~~third quarter to discontinue our operations in Rolla, Missouri~~heading Impairment and ~~have recognized an impairment in the value of the fixed assets that we will not be able to use in our other manufacturing locations. Engine manufacturing performed in Rolla today will move to China~~Disposal Charges and ~~other domestic locations.~~

In addition, we continue to evaluate the future direction of our facilities that produce lawn and garden equipment. The potential asset write-down associated with a decision to close a facility would be in the range of $8 to $10 million. We believe that we will be in a position to make a decisionincorporated herein by ~~the end of the current fiscal year.~~reference.

There have been no material changes since the September ~~1, 2006,~~17, 2007, filing of the Company’s Annual Report on Form ~~10-K.~~

There have been no material changes since the September ~~1, 2006,~~17, 2007, filing of the Company’s Annual Report on Form ~~10-K.~~10-K/A.

~~There~~Other than the change in the method the Company uses to compute the market related value of the assets within its qualified defined benefit pension plan discussed in the Notes to Consolidated Condensed Financial Statements of this Form 10-Q under the heading Change in Accounting Principle, there have been no material changes in Briggs & Stratton’s critical accounting policies since the September ~~1, 2006~~17, 2007 filing of its Annual Report on Form ~~10-K.~~10-K/A. As discussed in our annual report, the preparation of financial statements in conformity with accounting principles generally accepted in the United ~~States.~~States requires management to make estimates and assumptions about future events that affect the amounts reported in the financial statements and accompanying notes. Future events and their effects cannot be determined with absolute certainty. Therefore, the determination of estimates requires the exercise of judgment. Actual results inevitably will differ from those estimates, and such differences may be material to the financial statements.

The most significant accounting estimates inherent in the preparation of our financial statements include estimates as to the recovery of accounts receivable and inventory reserves, as well as estimates used in the determination of liabilities related to customer rebates, pension obligations, postretirement benefits, warranty, product liability, group health insurance and taxation. Various assumptions and other factors underlie the determination of these significant estimates. The process of determining significant estimates is fact specific and takes into account factors such as historical experience, current and expected economic conditions, product mix, and, in some instances, actuarial techniques. Briggs & Stratton re-evaluates these significant factors as facts and circumstances ~~change~~change.

~~On July 13, 2006,~~A discussion of new accounting pronouncements is included in the FASB issued Interpretation No. 48, “Accounting for Uncertainty in Income Taxes – an interpretation of FASB Statement No. 109”. Interpretation 48 clarifies the accounting for uncertainty in income taxes recognized in an entity’s financial statements in accordance with FASB Statement No. 109 and prescribes a standard methodology for financial statement disclosure of tax positions taken or expectedNotes to be taken on a tax return. Interpretation 48 is effective for fiscal years beginning after December 15, 2006, with early adoption permitted. At this time, the impact of adoption of Interpretation 48 on our consolidated financial position is being assessed.

On September 15, 2006, the FASB issued SFAS No. 157, “Fair Value Measurements,” which defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. SFAS No.157 is effective for fiscal years beginning after November 15, 2007. At this time, the impact of adoption of SFAS No.157 on our consolidated financial position is being assessed.

On September 29, 2006, the FASB issued SFAS No. 158, “Employers’ Accounting for Defined Benefit Pension and Other Postretirement Plans”. Effective for fiscal years ending after December 15, 2006, SFAS No. 158 requires the recognition of a net liability or asset on the balance sheet to reflect the funded status of defined benefit pension and other postretirement benefit plans. Adoption of SFAS No. 158 will be on a prospective basis and is expected to occur during the fourth quarter of the fiscal 2007. Based upon our review, had SFAS No. 158 been adopted as of the end of fiscal 2006, Pension and Other Postretirement liabilities would have increased $205 million with a corresponding decrease in equity of $125 million, net of $80 million of deferred taxes. The adoption of SFAS No. 158 will not have any impact on the company’s Consolidated Condensed ~~Statement~~Financial Statements of ~~Cash Flows.~~this Form 10-Q under the heading New Accounting Pronouncements and incorporated herein by reference.

This report contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected in the forward-looking statements. The words “anticipate”, “believe”, “estimate”, “expect”, “forecast”, “intend”, “may”, “objective”, “plan”, “project”, “seek”, “think”, “will”, and similar expressions are intended to identify forward-looking statements. The forward-looking statements are based on the Company’s current views and assumptions and involve risks and uncertainties that include, among other things, the ability to successfully forecast demand for our products and appropriately adjust our manufacturing and inventory levels; changes in our operating expenses; changes in interest rates; the effects of weather on the purchasing patterns of consumers and original equipment

manufacturers (OEMs); actions of engine manufacturers and OEMs with whom we compete; the seasonal nature of our business; changes in laws and regulations, including environmental, tax, pension funding and accounting standards; work stoppages or other consequences of any deterioration in our employee relations; work stoppages by other unions that affect the ability of suppliers or customers to manufacture; acts of war or terrorism that may disrupt our business operations or those of our customers and suppliers; changes in customer and OEM demand; changes in prices of raw materials and parts that we purchase; changes in domestic economic conditions, including housing starts and changes in consumer disposable income; changes in foreign economic conditions, including currency rate fluctuations; the actions of customers of our OEM customers; the ability to bring new productive capacity on line efficiently and with good quality; the ability to successfully realize the maximum market value of assets that may require disposal if products ofor production methods change; new facts that come to light in the future course of litigation proceedings which could affect our assessment of those matters; and other factors that may be disclosed from time to time in our SEC filings or ~~otherwise.~~otherwise, including the factors discussed in Item 1A, Risk Factors, of the Company’s Annual Report on Form 10-K and in its periodic reports on Form 10-Q. Some or all of the factors may be beyond our control. We caution you that any forward-looking statement reflects only our belief at the time the statement is made. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made.

There have been no material changes since the September ~~1, 2006,~~17, 2007, filing of the Company’s Annual Report on Form ~~10-K.~~10-K/A.

Briggs & Stratton’s management, with the participation of the Company’s Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of Briggs & Stratton’s disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) as of the end of the period covered by this report. Based on such evaluation, Briggs & Stratton’s Chief Executive Officer and Chief Financial Officer have concluded that, as of the end of such period, the Company’s disclosure controls and procedures are effective in recording, processing, summarizing and reporting, on a timely basis, information required to be disclosed by Briggs & Stratton in the reports that it files or submits under the Exchange Act.

There has not been any change in Briggs & Stratton’s internal control over financial reporting during the ~~third~~first fiscal quarter that has materially affected, or is reasonably likely to materially affect, Briggs & Stratton’s internal control over financial reporting.

A discussion of legal proceedings is included in the Notes to Consolidated Condensed Financial Statements of this Form 10-Q under the heading Commitments and Contingencies and incorporated herein by reference.

~~See “Risk Factors” in Item 1A of the Company’s annual report on Form 10-K for the year ended July 2, 2006.~~

~~The Company held its~~At the Annual Meeting of Shareholders on October ~~18, 2006. Information on~~17, 2007, director nominees named below were elected to a three-year term expiring in 2010 by the ~~matters voted upon~~indicated votes cast for and ~~the votes cast~~withheld with respect to each ~~matter~~nominee.

Directors whose terms of office continue past the Annual Meeting of Shareholders are Michael E. Batten, Keith R. McLoughlin, Robert J. O’Toole, John S. Shiely, Charles I. Story and Brian C. Walker.

Shareholders ratified the selection of PricewaterhouseCoopers LLP as the company’s independent registered public accounting firm. The vote was ~~previously reported in the Company’s Quarterly Report on Form 10-Q~~45,149,586 for the ~~quarter ended October 1, 2006.~~

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


Class		Outstanding at ~~April 27,~~November 2, 2007
COMMON STOCK, par value $0.01 per share		~~49,456,799 Shares~~49,550,283


		Page No.
PART I – FINANCIAL INFORMATION

Item 1.	Financial Statements

	Consolidated Condensed Balance Sheets – ~~April 1,~~September 30, 2007 and July ~~2, 2006~~1, 2007	3

	Consolidated Condensed Statements of Income – Three Months ~~and Nine Months~~ Ended ~~April 1,~~September 30, 2007 and ~~April 2,~~October 1, 2006	5

	Consolidated Condensed Statements of Cash Flows – ~~Nine~~Three Months Ended ~~April 1,~~September 30, 2007 and ~~April 2,~~October 1, 2006	6

	Notes to Consolidated Condensed Financial Statements	7

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	1918

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	2421

Item 4.	Controls and Procedures	2421

PART II – OTHER INFORMATION

Item 1.	Legal Proceedings	2522

Item ~~1A.~~4.	~~Risk Factors~~	25

~~Item 4.~~	Submission of Matters to a Vote of Security Holders	2522

Item 6.	Exhibits	2622

Signatures		2724

Exhibit Index		2825


	Three Months Ended						Nine Months Ended
	April 1, 2007			April 2, 2006			April 1, 2007			April 2, 2006
Net income (loss)	$	7,770		$	60,008		$	(16,178	)	$	86,553

Cumulative translation adjustments		781			(213	)		2,299			(128	)

Unrealized gain (loss) on derivative instruments		2,918			(3,053	)		142			(643	)

Total comprehensive income (loss)	$	11,469		$	56,742		$	(13,737	)	$	85,782


The components of Accumulated Other Comprehensive Income are as follows (in thousands):

	April 1, 2007			July 2, 2006
Cumulative translation adjustments	$	9,823		$	7,524

Unrealized loss on derivative instruments		(194	)		(336	)

Minimum pension liability adjustment		(2,228	)		(2,228	)

Accumulated other comprehensive income	$	7,401		$	4,960


	Three Months Ended
	September 30, 2007			As Adjusted October 1, 2006
Net loss	$	(20,452	)	$	(16,480	)
Cumulative translation adjustments		1,775			461
Unrealized loss on derivative instruments		(1,504	)		(1,190	)
Unrecognized pension and postretirement obligation		1,518			—

Total comprehensive loss	$	(18,663	)	$	(17,209	)


	September 30, 2007			As Adjusted July 1, 2007
Cumulative translation adjustments	$	13,574		$	11,799
Unrealized loss on derivative instruments		(2,605	)		(1,101	)
Unrecognized pension and postretirement obligation		(138,131	)		(139,649	)

Accumulated other comprehensive loss	$	(127,162	)	$	(128,951	)


	July 1, 2007
	As Reported		Adjustment		As Adjusted
Retained earnings	1,042,673		72,441		1,115,114
Accumulated other comprehensive loss	(56,510	)	(72,441	)	(128,951	)


	Three months ended October 1, 2006
	As Reported		Adjustment		As Adjusted
Cost of goods sold	293,887		(1,916	)	291,971
Gross profit on sales	44,362		1,916		46,278
Engineering, selling, general and administrative expenses	66,321		(639	)	65,682
Loss from operations	(21,959	)	2,555		(19,404	)
Loss before credit for income taxes	(27,539	)	2,555		(24,984	)
Credit for income taxes	(9,501	)	997		(8,504	)
Net loss	(18,038	)	1,558		(16,480	)

Basic loss per share	(0.36	)	0.03		(0.33	)
Diluted loss per share	(0.36	)	0.03		(0.33	)


	April 1, 2007 Carrying Amount		Maximum Guarantee
8.875% Senior Notes, due March 15, 2011	$	267,769	$	270,000

Variable Rate Term Notes, due February 11, 2008	$	35,000	$	35,000

7.25% Senior Notes, due September 15, 2007	$	81,097	$	81,175

Revolving Credit Facility, expiring May 2009	$	149,449	$	350,000


	September 30, 2007 Carrying Amount		Maximum Guarantee
8.875% Senior Notes, due March 15, 2011	$	268,048	$	270,000

Revolving Credit Facility, expiring July 12, 2012	$	121,000	$	500,000


Name of Nominee	For	Withheld
William F. Achtmeyer	45,006,065	373,384
David L. Burner	45,022,719	356,730
Mary K. Bush	44,339,268	1,040,181


Exhibit Number		Description
~~3.2~~10.0		~~Bylaws, as amended~~ Amended and ~~restated April 18, 2007.~~Restated Form of Officer Employment Agreement (Filed herewith)

10.1		Amended and Restated Form of Change of Control Employment Agreement (Filed herewith)

10.2		Amended and Restated Supplemental Executive Retirement Plan (Filed herewith)

10.3		Amended and Restated Supplemental Employee Retirement Plan (Filed herewith)

10.4		Amended and Restated Key Employee Savings and Investment Plan (Filed herewith)

10.5		Summary of Director Compensation (Filed herewith)

10.6		Amended and Restated Deferred Compensation Plan for Directors (Filed herewith)

10.7		Powerful Solution Incentive Compensation Program (Filed herewith)


10.8		Amendment to the Briggs & Stratton Corporation Economic Value Added Incentive Compensation Plan (Filed herewith)

10.9		Amended and Restated Multicurrency Credit Agreement, dated July 12, 2007, among Briggs & Stratton Corporation, the financial institutions party hereto, and J.P. Morgan Chase Bank, N.A., La Salle Bank National Association, M&I Marshall & Ilsley Bank, U.S. Bank National Association, as co-documentation agents, and Bank of America, N.A., as administrative agent, issuing bank and swing line bank, and Banc of America Securities LLC, lead arranger and book manager. (Filed as ~~Exhibit 3.2~~exhibit 4.1 to the Company’s Report on Form 8-K dated ~~April 18,~~July 12, 2007 and incorporated by reference ~~herein.)~~herein)

18.0		Letter from PricewaterhouseCoopers LLP re: Change in Accounting Principle (Filed herewith)

31.1		Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
		(Filed herewith)

31.2		Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
		(Filed herewith)

32.1		Certification of the Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
		(~~Furnished~~Filed herewith)

32.2		Certification of the Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
		(~~Furnished~~Filed herewith)


		BRIGGS & STRATTON CORPORATION
		(Registrant)

Date: ~~May 4,~~November 8, 2007		/s/ James E. Brenn
		James E. Brenn
		Senior Vice President and Chief Financial Officer and Duly Authorized Officer



Exhibit Number		Description
~~3.2~~ 10.0		~~Bylaws, as amended~~ Amended and ~~restated April 18, 2007.~~Restated Form of Officer Employment Agreement (Filed herewith)

10.1		Amended and Restated Form of Change of Control Employment Agreement (Filed herewith)

10.2		Amended and Restated Supplemental Executive Retirement Plan (Filed herewith)

10.3		Amended and Restated Supplemental Employee Retirement Plan (Filed herewith)

10.4		Amended and Restated Key Employee Savings and Investment Plan (Filed herewith)

10.5		Summary of Director Compensation (Filed herewith)

10.6		Amended and Restated Deferred Compensation Plan for Directors (Filed herewith)

10.7		Powerful Solution Incentive Compensation Program (Filed herewith)

10.8		Amendment to the Briggs & Stratton Corporation Economic Value Added Incentive Compensation Plan (Filed herewith)

10.9		Amended and Restated Multicurrency Credit Agreement, dated July 12, 2007, among Briggs & Stratton Corporation, the financial institutions party hereto, and J.P. Morgan Chase Bank, N.A., La Salle Bank National Association, M&I Marshall & Ilsley Bank, U.S. Bank National Association, as co-documentation agents, and Bank of America, N.A., as administrative agent, issuing bank and swing line bank, and Banc of America Securities LLC, lead arranger and book manager. (Filed as ~~Exhibit 3.2~~exhibit 4.1 to the Company’s Report on Form 8-K dated ~~April 18,~~July 12, 2007 and incorporated by reference ~~herein.)~~herein)

~~31.1~~ 18.0		Letter from PricewaterhouseCoopers LLP re: Change in Accounting Principle (Filed herewith)

31.1		Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
		(Filed herewith)

31.2		Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
		(Filed herewith)

32.1		Certification of the Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Filed herewith)

		~~(Furnished herewith)~~

32.2		Certification of the Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
		(~~Furnished~~Filed herewith)