Earnings/Financial Reports
SAN MATEO, Calif. (BRAIN) — GoPro on Wednesday reported a 37 percent increase in third-quarter revenue to $329.8 million and net income of $14.7 million, compared with a loss of $104 million in the same quarter a year earlier.
OLATHE, Kan. (BRAIN) — Garmin on Wednesday reported a 3 percent increase in third-quarter revenue to $743 million, but the company's fitness segment — which includes cycling products — saw sales decline 12 percent during the period to $167 million.
STOCKHOLM (BRAIN) — Thule Group announced Friday that its net sales were up 6.9 percent in its third quarter, the period from July through September. Adjusted for exchange rate fluctuations, sales rose 8.5 percent, to 1,385 million Swedish Krona ($165 million).
HELSINKI, Finland (BRAIN) — Sales in Amer Sports' cycling division, which comprises Mavic and Enve, were down 10 percent through the first nine months of the company's fiscal year, and down 8 percent in the third quarter. The company said its bike-related sales were hurt by high OEM and retail inventories.
OSAKA, Japan (BRAIN) — Shimano saw a slight increase in sales in its bike division through the first nine months of 2017, up 1.4 percent to 196 billion yen ($1.7 billion) over sales in the same period last year. Operating income in the division decreased nearly 5 percent over the period however.
HELSINKI, Finland (BRAIN) — Amer Sports has updated its 2020 growth target. Instead of aiming for sales of 3.4 billion euros ($4.2 billion) in that year, the company is now setting a target for "annual mid-single-digit organic, currency-neutral growth."
CAPE TOWN, South Africa (BRAIN) — Protective products manufacturer Leatt Corporation announces on Friday that its first half sales totaled $9.3 million, up from $8.5 million in the first half last year. In the half, the company registered net income of $101,000.
FARMINGTON, Utah (BRAIN) — Vista Outdoor's sales in its Outdoor Products division — which includes Bell, Giro, CamelBak and Bollé sales — were down 6.5 percent organically in the first quarter.
MONTRÉAL (BRAIN) — Dorel Industries reported that second-quarter revenue was down 11 percent in its sports division, which includes its mass and IBD bike businesses, including Cannondale, Caloi, GT, Mongoose, Schwinn and Sugoi brands.
SAN JUAN CAPISTRANO, Calif. (BRAIN) — Emerald Expositions reported 14 percent growth in revenue for the second quarter compared with the same period last year — about a third of that from organic growth and two-thirds from recent acquisitions.
SAN MATEO, Calif. (BRAIN) — Shares of GoPro Inc. surged 20 percent in trading Friday after the company this week reported second-quarter earnings that topped analyst expectations due in part to restructuring and job cuts that have reduced the action camera and drone maker’s costs.
SCOTTS VALLEY, Calif. (BRAIN) — Fox Factory Holding Corp. announced Thursday that its bicycle-related sales — through its Fox Factory, Marzocchi, Race Face and Easton brands — was up 2.9 percent in the second quarter, which ended June 30.
OLATHE, Kan. (BRAIN) — Garmin on Wednesday reported a 1 percent rise in second-quarter revenue, to $817 million from $812 million a year earlier, that included a 46 gain in its outdoor segment driven by strong demand for its Fenix smart watches.
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