NEW YORK (Reuters) - Briggs & Stratton Corp (BGG.N: Quote, Profile, Research), a maker of small engines and generators for outdoor equipment, reported weaker-than-expected quarterly profit on Thursday, and gave a 2008 forecast below Wall Street estimates, sending shares down 13 percent in midday trading.

"We are now in a prime part of the spring selling season and it appears retail sales of powered equipment have started slowly," the company said in a statement. It added it would cut production next month if sales don't pick up.

Briggs & Stratton reported net income of $37.1 million, or 75 cents a share, for its fiscal third quarter, compared with $9.3 million, or 18 cents a share, a year earlier, when results included a large writedown.

Sales rose 1 percent to $724.5 million.

Analysts had forecast the company would earn 85 cents per share on sales of $767 million, according to Reuters Estimates.

The company said it expected full-year earnings in a range of 60 cents to 71 cents per share, compared with Wall Street forecasts of a $1.19 per share in full-year profit.

Briggs & Stratton shares were down $2.28 to $15.00 on the New York Stock Exchange.