VAN NUYS, CA (BRAIN)–Easton-Bell Sports on Monday reported a 6.3 percent increase in first-quarter net sales to $216.3 million, driven in part by gains in the company’s Action Sports segment, which includes its bicycle-related business.
Action Sports sales rose or 5.5 percent to $87.3 million for the quarter on increased sales of Giro and Bell cycling helmets, Giro cycling shoes and new product launches in power sports helmets, the company reported.
Overall, gross margin increased to 33.8 percent from 31.5 percent, and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased by $2.9 million, or 14.9 percent, to $22.6 million.
“We are pleased with our sales and margin growth in the first quarter, driven by higher average selling prices associated with product innovation and productivity gains within our supply base,” Easton-Bell president and CEO Paul Harrington said in a statement.
