Earnings/Financial Reports
TAIPEI, Taiwan (BRAIN)—First quarter earnings were a mixed bag for Taiwan’s top manufacturers, according to figures released on the Taiwan Stock Exchange.
OSAKA, Japan (BRAIN)—Shimano posted a 2.2 percent increase in sales in its bike division during the first quarter compared to the same period last year.
MELBOURNE, Australia (BRAIN)—Bicycle imports for the month of February fell in Australia, according to statistics released by the nonprofit Bicycle Industries Australia group.
WASHINGTON, D.C. (BRAIN)—Imports of mountain bikes in January were 51 percent higher than last year, and road bike imports are up 66 percent, according to Department of Commerce reports. Overall suppliers brought in 980,352 bikes, or 37,760 more than a year ago.
WESTPORT, CT (BRAIN)—Fox Racing Shox reported a 40 percent revenue increase in 2010 as the rebounding economy spurred higher OEM sales in the mountain biking category, the company’s parent company, Compass Diversified Holdings, said on Thursday.
MONTREAL (BRAIN)—Sales in Dorel Industries’ bike division rose 13.7 percent in 2010 boosted by the successful relaunch of the Schwinn brand, as well as double-digit growth in the IBD channel in the U.S. and Europe, according to a year-end earnings report released by the company on Thursday.
VAN NUYS, CA (BRAIN)—Strong sales of Easton cycling components and wheels drove a sales increase of 6.4 percent in Easton Bell Sports’ action sports segment during the final quarter of 2010, according to the company’s year-end financial results released on Thursday.
WASHINGTON, D.C. (BRAIN)—Suppliers imported 19.77 million bikes into the United States last year, worth more than $1.43 billion, a historical record value for imports. The only year with more imports was 2000, when suppliers brought in 20.28 million bikes, but their value in unadjusted dollars was $1.12 billion.
MELBOURNE, Australia (BRAIN)—Imports of bicycles into Australia grew 12 percent in 2010 due to strong growth in the summer months, according to bicycle sales statistics released by Australian nonprofit Cycling Promotion Fund.
OSAKA, Japan (BRAIN)—Shimano’s sales hit $2.6 billion last year (213.6 billion Yen), with the bicycle division contributing $2.1 billion (169.4 billion Yen) in sales, or 79 percent of total sales. Shimano’s net income doubled to $232.3 million (19.1 billion Yen).
CLOPPENBURG, Germany (BRAIN)—Derby Cycle raised €98.6 million ($133.9 million) in its market debut today on the Frankfurt Stock Exchange, the company said in a press release.
The listed price was €13.15 per share for 7.5 million shares listed.
HELSINKI, Finland (BRAIN)—Sales of Mavic rims, wheels, apparel and footwear rose 5 percent last year, totaling € 106.4 million ($142. 4 million), according to year-end financial results released Thursday by Amer Sports, Mavic’s parent company.
TAIPEI, Taiwan (BRAIN)—Taiwan’s top two bike manufacturers ended 2010 up double digits after wrapping up the year with solid growth in December.
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