Earnings/Financial Reports
HELSINKI, Finland (BRAIN)—Mavic showed signs of a rebound in the first three months of 2010, posting sales gains of 8 percent for the period, according to first-quarter earnings results released Thursday by Mavic’s parent company, Amer Sports.
OSAKA, Japan (BRAIN)—Shimano sales over the first quarter were 11 percent higher than the same period last year, and better than the company forecasted.
TAIPEI, Taiwan (BRAIN)—March sales revenue for Taiwan’s two leading manufacturers soared in the double digits, while Ideal’s revenue fell for the second straight month, according to first quarter sales numbers released this week on the Taiwan Stock Exchange.
WATERTOWN, MA (BRAIN)—Seven Cycles sales grew 10 percent over the first quarter compared with last year. The growth exceeded Seven's projections and in order to respond, the company is hiring across the board to keep up.
WASHINGTON, D.C. (BRAIN)—Shipments of kids' bikes to Australia helped push U.S. bike exporters' January business 16 percent over last year. Exports of kids' bikes increased 1,336 units, a 71 percent jump, while adult exports dropped 421 units.
WASHINGTON, D.C. (BRAIN)—Importers brought in 139,794 fewer units this January compared with the year before—a 13 percent drop in business, the lowest January for importers since 2002.
TORONTO, Ontario (BRAIN)—The Bicycle Trade Association of Canada (BTAC) reports its supplier members picked up $21 million* in sales last year as shipments to dealers fell 8 percent but sales grew 14 percent to $171 million.
BETHEL, CT (BRAIN)—Topolino Technology expects first quarter sales to more than double last year's results.
MONTREAL, Quebec (BRAIN)—Dorel Industries’ bike business grew by 11.3 percent in the fourth quarter of 2009, propelling the segment to a year-end sales increase of almost 4 percent.
Revenue increased to $175.6 million in the fourth quarter of 2009 compared with $157.8 for the same period in 2008.
WESTPORT, CT (BRAIN)—Annual sales for Fox Racing Shox fell 7.8 percent in 2009, but the company saw signs of recovery in the fourth quarter with double-digit growth during the last three months of the year.
MILAN, Italy (BRAIN)—Oakley posted double digit growth in 2009 despite the rocky economy according to year-end earnings results released Monday by Oakley’s parent, Luxottica Group.
The solid results last year were on top of double-digit growth in 2008, the company said.
HEERENVEEN, The Netherlands (BRAIN)—Accell Group cashed in on the growing popularity of bikes for transportation last year, posting a 6 percent increase in sales and a 15 percent spike in profit.
PHILADELPHIA, PA (BRAIN)—In the Bicycle Products Supplier Association (BPSA) December report bicycle shipments to dealers fell 9 percent last year. Sales fell a relatively mild 4 percent as the average unit price climbed $18 to $356.
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