WESTPORT, Conn. (BRAIN) — CamelBak sales over the first quarter were $38.8 million, down from $42.8 million last year. CamelBak is a division of Compass Diversified Holdings, which published its first quarter earnings this week.
The company attributes its sales drop to a $6.5 million shortfall in hydration system sales; its accessories sales also were down $1.2 million. Bottle sales, driven by its Eddy and Podium insulated bottles, saw sales increase $2.8 million, and glove sales rose $0.8 million, in part on sales to military contracts.
The company fulfilled a large Marine Corps contract for hydration systems in the first quarter of 2013, which it could not match this year. The decrease in military sales is attributable to the absence of Marine Corps contract sales and a decrease in other military sales due to decreased demand as a result of the drawdown of U.S. combat troops.
Compass Diversified is traded on Nasdaq under the CODO symbol, and is tracked on BRAIN's stock page.