Earnings/Financial Reports
Chicago, Ill (BRAIN)—SRAM International Corporation could raise up to $300 million in an initial public offering, according to a preliminary prospectus filed today with the Securities and Exchange.
MELBOURNE, Australia (BRAIN)—Australia import figures for the month of March show a continued slow trend in children’s bikes, while adult bikes remained steady, according to data released by the nonprofit Cycling Promotion Fund.
WATSONVILLE, CA (BRAIN)—Sales at Fox Racing Shox hit $42.9 million through March 2011, an increase of 31 percent over last year’s sales of $32.7 million, and exceeding the company’s expectations, according to Compass Diversified Holdings first quarter report.
VAN NUYS, CA (BRAIN)—A strong start to the bike season led Easton-Bell Sports to sales growth of 5 percent in the first quarter of the year.
By Matt Wiebe
SEATTLE, WA—Recreational Equipment Inc. reported a record year in 2010 with an all-time high operating income due in part to its growing bike business.
MILAN, Italy (BRAIN)—Sales of Oakley eyewear increased 11 percent in the first quarter of the year, helping drive parent company Luxottica to double digit growth in revenue and profitability.
HEERENVEEN, the Netherlands—Accell Group said in a shareholder meeting today that first quarter turnover has increased over last year.
HELSINKI, Finland (BRAIN)—Mavic’s sales grew 8 percent in the first quarter of the year according to earnings released early Thursday by parent company Amer Sports.
For the first three months of the year, revenue was 34.4 million euros compared with 29.3 million euros for the same time period in 2010.
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.
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