WATSONVILLE, CA (BRAIN)—Sales at Fox Racing Shox hit $42.9 million through March 2011, an increase of 31 percent over last year’s sales of $32.7 million, and exceeding the company’s expectations, according to Compass Diversified Holdings first quarter report.
“This increase is due to greater sales in our core mountain bike business,” said Jim Bottiglieri, Compass Diversified Holdings’ chief financial officer.
Fox Racing is a subsidiary of Compass Diversified Holdings.
Bottiglieri said Fox’s power sports sales, especially ATV, and sales to Ford also increased over the quarter. And Fox’s income rose strongly to $5 million, a 76 percent increase.
Compass Diversified Holdings’ overall net sales grew to $424.13 million from last year's $353.62 million, an increase of 20 percent. Fox’s first quarter sales represent 10 percent of Compass Diversified Holdings overall sales for the quarter.