Earnings/Financial Reports
HELSINKI (BRAIN) — Mavic sales were down 2 percent in the first quarter, according to its parent, Amer Sports, which reported its total sales were up about 10 percent.
STOCKHOLM (BRAIN) — Thule Group AB hit its financial goals for annual sales growth and EBIT margin for 2015, and exceeded its goal for the proportion of the energy used in its factories coming from renewable sources.
MONTREAL (BRAIN) — Dorel Industries reported that its bike business, Dorel Sports, saw revenues drop by $6.4 million or 2.5 percent to $253 million in the fourth quarter of 2015. Removing the impact of foreign exchange rates, organic revenue was up about 3 percent, the company said.
HEERENVEEN, Netherlands (BRAIN) — Accell Group is reporting that its global profits and revenues were up significantly in 2015, largely thanks to e-bike sales in Europe.
OLATHE, Kan. (BRAIN) — Sales and profit declined at Garmin Ltd. in the fourth quarter, but the company’s fitness business — which includes cycling products — posted its strongest gains for the period.
STOCKHOLM (BRAIN) — Thule Group notched a 5.1 percent sales increase in 2015 in currency-neutral figures. The Stockholm-based company recorded sales of 5.3 million Swedish Kronas ($623 million) for the year, capped by a 3 percent sales increase in the final quarter.
OSAKA, Japan (BRAIN) — Shimano's net sales were up nearly 14 percent in 2015, to 378 billion yen ($3.3 billion). Operating income also increased, by nearly 30 percent, to 85.1 billion yen.
SAN MATEO, Calif. (BRAIN) — Shares of GoPro plunged in after-hours trading Wednesday after the action camera maker reported a surprising fourth-quarter loss of $11.4 million, or 8 cents a share, compared with a year-earlier profit of $144.9 million.
HELSINKI (BRAIN) — Mavic's owner, Amer Sports Corp., is reporting net sales of 783.7 milion euros ($870 million) in the fourth quarter of 2015, up 6 percent in local currencies from its sales in the same period in 2014. Gross margins increased to 43.8 percent from 43 percent in the prior year.
HEERENVEEN, Netherlands (BRAIN) — Accell Group reported growth in revenue in the third quarter, which the Dutch conglomerate attributed to healthy sales of the company's German and French bike brands.
MONTREAL (BRAIN) — Dorel Sports third quarter revenue was flat at $266.5 million, but was up about 9 percent after removing the effect of currency exchange fluctuations — an increase that Dorel Industries credited to its IBD sales.
SCOTTS VALLEY, Calif. (BRAIN) — Marzocchi is unlikely to contribute much to Fox Factory’s bottom line for at least a year, Fox executives warned investors Wednesday, saying it will take some time and money to resurrect the Italy-based brand, which is currently dormant.
STOCKHOLM (BRAIN) — Thule Group will continue to focus on its Outdoor & Bags division, despite some softness in sales of its electronics and camera bags in the Swedish company's most recent quarter.
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