CAPE TOWN, South Africa (BRAIN) — Leatt Corporation revenue increased 18% year-over-year as all of its head-to-toe protective gear categories — mountain bike, moto, and off-road adventure riding — grew by double digits during the period.
Revenue for the quarter ending Sept. 30 was $14.34 million, compared with $12.14 million at the same time last year. Net income during the period jumped 366% year-over-year to $539,256, compared with $115,837. Direct-to-consumer sales during the quarter increased 61%.
"Our U.S. Moto and MTB sales teams are gaining momentum at the dealer level, and our supply chain team is managing shipping and logistics costs efficiently," said CEO Sean Macdonald. "... While we monitor the international trade situation, we are continuing to invest in Leatt as a global, consumer-facing brand and to build a strong, diversified, multi-channel sales organization to reach more riders world-wide."
Leatt product lines — neck braces, body armor, helmets, and other products, parts, and accessories — had year-over-year increases. Body armor sales — which includes mountain bike shoes — increased 6%, led by a 46% rise in footwear sales alone.
Year-over-year sales of other products, parts, and accessories include googles, hydration bags, and apparel items increased 53%, led by a 49% increase in revenue from mountain bike, moto, and adventure riding apparel.
Earnings per share for the quarter was $0.09, compared with $0.02 at the same time last year.
Leatt also announced that industry veteran Nick Larsen is the new head of brand, marketing, and creative.
Leatt is traded on the OTCQB markets under the LEAT symbol.
