Earnings/Financial Reports
WASHINGTON D.C. (BRAIN)—Suppliers, reacting to the nation’s recession, brought in the fewest bicycles in the first quarter of the year since 1998. However, the dollar value of all units is the second highest in the same 11 years, said Jay Townley, an industry consultant.
OSAKA, Japan (BRAIN)—Shimano’s sales were down, but the company still managed to increase its net profit by 3 percent over its first quarter ending March 31, 2009.
WESTPORT, CT (BRAIN)—Fox Racing Shox reported a 14.2 percent decline in first quarter sales due to slow OEM orders in its bike division, according to earnings reports released on Friday.
MILAN, Italy (BRAIN)—Oakley sales were up 7 percent in the first quarter of 2009, even as its parent company, Luxottica, faced a challenging period.
MONTREAL, Quebec (BRAIN)—Dorel’s IBD brands were a bright spot in the company’s bike division during the first quarter of 2009, posting 8 percent organic growth during the first three months of the year.
HEERENVEEN, the Netherlands (BRAIN)—Accell Group saw a good start in the first quarter of the year as sales and profit both increased from 2008, according to René Takens, chairman of the executive board of Accell Group.
WESTPORT, CT (BRAIN)—Fox Racing Shox reported net sales of $131.7 million in 2008, up from $105 million the year before, according to earnings released on Friday by its parent company, Compass Diversified Holdings, Inc.
NEWMARKET, Ontario (BRAIN)—Bicycle Trade Association of Canada (BTAC) members shipped 14,499 more units to shops last year, a 6.5 percent increase over 2007. Sales revenue rose 9.3 percent over the year.
MILAN, Italy (BRAIN)—Oakley sales helped push its parent company, Luxottica, over the 5 billion euro mark for the first time in its history in 2008 despite a difficult end to the year.
MONTREAL (BRAIN)—Dorel Industries said on Wednesday it had its best ever year in 2008 despite economic challenges in the fourth quarter that left the company sitting on millions of dollars worth of inventory.
BY MATT WIEBE
PHILADELPHIA, PA—The good news for bicycle suppliers is that bikes sold better than cars last year. The bad news is that when gas crossed the $4 a gallon threshold in June, bike sales tanked.
VAN NUYS, CA (BRAIN)—Easton Bell reported a moderate increase in sales in 2008, although the company’s profit dipped slightly.
HEERENVEEN, The Netherlands (BRAIN)—Accell Group posted a 17-percent growth in profits in 2008 due to strong sales of bicycles, a better product mix and the acquisition of Ghost, according to a year-end earnings report released last Friday.
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