ANOKA, Minn. (BRAIN) — Bell and Giro's parent company is reporting that revenues in its division that includes those brands saw a sales increase of 18% in its third quarter, which ended Dec. 27.
Vista Outdoor's total revenues for the quarter were $575 million, up 35% year over year. Net income was $62 million, four times its profits in the same quarter a year earlier. Earnings per share were also up nearly 400%, to $10.03.
The company's ammunition and hunting and shooting accessories business drove much of the increase in revenue and profits. Ammunition sales were up 42% and the hunting and shooting accessory business was up 37%.
But Vista Outdoor also saw good results in its Action Sports division — which includes Bell, Giro, Blackburn, Krash, Copilot and Raskullz — and its Outdoor Recreation division — which includes CamelBak, Camp Chef and Bushnell Golf.
Action Sports sales were up 18% to $88.9 million, compared to $75.7 million last year. Outdoor Recreation sales were up 32% to $84.3 million, compared to $63.6 million last year.
In its quarterly report released Thursday, the company made no specific mention of the bike brands except to say the increases were driven by increased participation in outdoor recreation activities and e-commerce.
It said e-commerce sales grew by over 50% in the quarter compared to last year and contributed about 20% of company sales year-to-date.
Through the first three quarters of the company's 2021 fiscal year, shooting sports made up 68% of its sales, with outdoor sports (including the Action Sports and Outdoor Recreation divisions) made up the rest.
Company-wide, Vista Outdoor forecast fourth-quarter sales of $510-$530 million and earnings per share of $0.55-$0.65.
Vista Outdoor also announced it had completed the purchase of Hevi-Shot Ammunition this week. It bought the Remington ammunition business last year. Vista sold off its firearms brands in 2019.
The company announced in 2018 that it planned to sell its Action Sports brands, later saying it planned to reinvest in the brands for a time before selling them.
