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Compass: CamelBak, Fox shine in 2011

Published March 8, 2012

WESTPORT, CT (BRAIN)—Revenue and income for CamelBak and Fox Racing Shox were up last year, according to year-end earnings reported by parent company Compass Diversified Holdings.

Camelbak performed in line with expectations during the seasonally slow fourth quarter. Revenue for the quarter reached $26.6 million, down from 2010’s $34.4 million. Compass attributed the drop to lower military sales due to the draw-down of troops overseas. For the quarter, income was up to $1.3 million, compared with $800,000 a year earlier.

For the year, CamelBak’s revenue was up, totaling $141.3 million, compared with $122.2 million in 2010. Income was also up, $18 million for the 12 months in 2011 compared to $14.4 million in 2010.

Compass reported that Fox exceeded revenue expectations in the fourth quarter and full year with gains of 12 percent and 16 percent, respectively.

Revenue for the fourth quarter totaled $47.3 million, up from $42.2 million in the same quarter of 2010. The growth came from higher sales in the core mountain bike segment and power vehicle sector.

Income for the quarter was down a bit to $2.9 million compared with $3.3 million for the quarter in 2010, which it attributed to higher selling, general and administrative expenses to support the unit’s continued sales growth.

For the year, the suspension brand delivered revenue of $197.7 million, up from $171 million in 2010, on increased sales of components for mountain bikes and powered vehicles. Full-year income was up 15 percent to $22.6 million from $19.6 million in 2010.

Topics associated with this article: Earnings/Financial Reports

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