CAPE TOWN, South Africa (BRAIN) — Leatt Corporation reported second-quarter revenue increased 106% and net income 257% year-over-year, the fourth consecutive quarter of record-breaking growth for the protective gear manufacturer.
Global revenue for the quarter ending June 30 was $14.3 million, compared with $6.9 million in 2020, and net income jumped from $675,000 to $2.4 million. The numbers were driven by sales increases in body armor (107%), helmets (91%), and other products and accessories (165%).
Six months into 2021, revenue is reported at $27.2 million, up 88%, and net income $4.5 million, up 331% over the same period last year.
Earnings per share for the second quarter was $0.44, up from $0.13 in Q2 2020.
"The numbers for the quarter demonstrate our ability to grow revenues strongly while remaining operationally efficient." said CEO Sean Macdonald.
Macdonald said the company is working closely with its supply-chain team in Asia to ensure adequate supply and mitigate rising raw material and logistics costs.
Leatt is traded on the OTCQB markets under the LEAT symbol.
