WESTPORT, CT (BRAIN) — Strong sales at Fox and CamelBak contributed to a healthy first quarter for parent Compass Diversified Holdings, the company reported Wednesday.
CamelBak’s revenue and earnings before interest, tax, depreciation and amortization (EBITDA) rose 6 percent and 21 percent, respectively, as the brand completed a U.S. government contract during the quarter to supply a new hydration system for use in combat training. CamelBak also benefited from changes in the timing of product delivery that could negatively affect performance in the second quarter, Compass warned.
Fox, meanwhile, saw revenue rise 20 percent and EBITDA leap 38 percent despite the first quarter being a historically weak period for the bike brand due to seasonal market factors.
“Fox had a great quarter. They’ve been an extremely strong performer for several years now. We think that they’re just really well positioned,” said Compass CEO Alan Offenberg.
For the company overall, Compass reported a 24 percent increase in sales to $241.6 million compared with a year earlier, and net income of $3.6 million, up more than 300 percent from $889,000 in Q1 2012, in part due to the inclusion of financials from Arnold Magnetic Technologies, which Compass acquired in March 2012.