Earnings/Financial Reports
OLATHE, Kan. (BRAIN) — Garmin Ltd. reported record first-quarter revenue despite a 28% decrease in sales in its fitness division, which includes Garmin's cycling products.
TOKYO (BRAIN) — Sales in Shimano's bike-product division were up 14% in the first quarter, compared to the same period last year. However the company said the pandemic-driven bike boom "showed signs of cooling down."
STOCKHOLM (BRAIN) — Thule Group's first-quarter net sales increased 20% despite continued pandemic hurdles — including global supply chain challenges, rising costs in raw materials and shipping, and employee absenteeism — and most recently the war in Europe.
TAIPEI, Taiwan (BRAIN) — Giant Group says its full-year 2021 sales were 81.8 billion New Taiwan dollars ($2.85 billion), up 17% from 2020.
CHANHASSEN, Minn. (BRAIN) — Life Time Group Holdings, the health club operator that also owns major cycling events such as Sea Otter Classic, UNBOUND Gravel, and the Leadville 100, recovered from pandemic club shutdowns in 2021 to see a 57.8% increase in company-wide revenues, to $1.3 billion.
MONTRÉAL (BRAIN) — Dorel Industries is reporting that its Dorel Sports division recorded a 12.2% increase in revenues last year, its final year before the bike division's sale to Pon Holdings. The acquisition was completed on Jan. 4.
CAPE TOWN, South Africa (BRAIN) — Leatt Corporation reported record fourth-quarter and full-year revenue gains of more than 80% year-over-year despite what it said were challenging global supply-chain conditions.
PITTSBURGH (BRAIN) — Dick's Sporting Goods reported a second consecutive year of record full-year net sales for the period ending Jan. 29.
NEW YORK (BRAIN) — Signa Sports United, the publicly traded parent of Wiggle CRC and other e-commerce sites, reported a net sales increase of 11% in its first quarter. But it says the increase would have been higher if not for the shortage of complete bikes available in the quarter.
WESTPORT, Conn. (BRAIN) — Compass Diversified, the parent of BOA Technologies and Lizard Skins, among other brands, is reporting record fourth quarter and annual sales figures. The company's Q4 sales were $536.6 million and full-year 2021 revenues were $1.842 billion.
DULUTH, Ga. (BRAIN) — Fox Factory executives said all orders for its OE bike products are pre-booked for 2022 and they expect no letup in demand until next year or beyond.
Fox announced Thursday that its revenues last year hit $1.3 billion, a company record and a 45.9% increase over its 2020 sales.
OLATHE, Kan. (BRAIN) — Garmin Ltd. reported record revenue for the year and in the fourth quarter despite flat fitness sales that include cycling products.
STOCKHOLM (BRAIN) — MIPS' Sports category continued to drive sales, with bike and snow helmets helping the technology company increase fourth-quarter year-over-year net sales 41% and 67% for the year.
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