WESTPORT, CT (BRAIN)—Fox Racing Shox reported a 40 percent revenue increase in 2010 as the rebounding economy spurred higher OEM sales in the mountain biking category, the company’s parent company, Compass Diversified Holdings, said on Thursday.
Net sales rose from $121.5 million in 2009 to $170.9 million.
OEM sales increased by $41.7 million in 2010—rising from $92.5 million in 2009 to $134.2 million in 2010. Of that increase, $28.8 million came from the mountain biking sector and $12.9 million from the powered vehicle sector. The company attributed the increase in sales in the mountain bike sector to the rebound from the impact of the global economic recession in 2009, which created excess inventory in the industry.
International OEM and aftermarket sales were $113.6 million last year compared with $84 million the year before, an increase of $29.6 million, or 35.2 percent.
During a conference call with financial analysts on Thursday afternoon, company executives said they expect Fox’s revenue to stabilize this year after five consecutive quarters of double digit revenue growth.