WESTPORT, CT (BRAIN) — Fox sales over the first nine months of the year hit $179.3 million, up $28.8 million from last year. Over the same period, sister company CamelBak saw sales of $121.1 million, $6.4 million over last year, according to financial data released by parent company, Compass Diversified Holdings.
Fox attributed its sales growth to its OEM business that grew to $143.5 million this year, up from $119.6 last year, a 20 percent increase. Increasing spec with its current customers accounted for most of the gain. However, its aftermarket business rose $4.9 million as well.
The company reported a 2 percent decrease in gross profit that it attributed to increased overhead costs from consolidating its Watsonville, California, operations, and increased costs from expanding its Taiwanese operations. Increased expedited freight costs and warranty costs also cut Fox’s profit.
Sales growth of CamelBak’s hydration systems, up $10.1 million, and bottles, up $8.2 million over the first nine months, offset its falling glove and accessory sales, which were down $10.4 million. It attributes decreased glove sales to decreased demand from the U.S. military due to a drawdown of U.S. combat troops during the year.