Earnings/Financial Reports
TAICHUNG, Taiwan (BRAIN) — First-quarter revenue at Giant Manufacturing, the world's largest producer of bikes, continues a downward trend pointing to what could be another tough year for the industry.
MONTREAL (BRAIN) — Dorel Inc.’s bike division on Friday reported a drop in first-quarter revenue but said operating profit almost doubled to $10.1 million as margins improved and the division’s restructuring, including a 4 percent workforce reduction, reaped benefits.
SCOTTS VALLEY, Calif. (BRAIN) — Fox Factory Holdings reported a 32.6 percent increase in sales in its fiscal first quarter and has raised its guidance for the second quarter and the full fiscal year, for both sales and earnings.
OLATHE, Kan. (BRAIN) — Garmin on Wednesday reported a 2 percent gain in first-quarter revenue, to $639 million, as sales growth in its outdoor, marine and aviation segments countered declines in fitness and automotive sales.
SAN MATEO, Calif. (BRAIN) —GoPro on Thursday reported a first-quarter loss of $111.2 million on revenue that rose 19 percent to $218.6 million, topping the company’s guidance for the period.
HELSINKI (BRAIN) — Amer Sports Corporation is reporting that its cycling sales — comprising business by its Mavic and Enve brands — were down 5 percent in the January through March period, compared to the same period last year.
HEERENVEEN, Netherlands (BRAIN) — Accell Group, which planned to hold its annual meeting of shareholders on Tuesday, said its sales in the first months of 2017 were at the same level as last year.
OSAKA, Japan (BRAIN) — Shimano's bike-related sales were down 0.9 percent in the first quarter compared with the same period last year, while operating income in the segment was down 3.2 percent.
TAICHUNG, Taiwan (BRAIN) — Revenue at Giant Manufacturing, the world's largest maker of bicycles, slumped last year driven down by weak sales in China and lower sales in the U.S. as high inventory levels and heavy discounting took its toll.
CAPE TOWN, South Africa (BRAIN) — Protective gear maker Leatt Corporation recorded sales of $16.4 million last year, down from $18.3 million the year before. The company recorded a net loss of $455,000 last year.
The company is headquartered in South Africa and its stock is traded on OTCQB market.
SEATTLE, Wash. (BRAIN) — REI revenues were up 5.5 percent last year, to $2.56 billion. The co-op returned a record $193.7 million in member dividends and credit card rebates and gave back nearly 70 percent of its profits to outdoor community projects and organizations.
HEERENVEEN, Netherlands (BRAIN) — On the strength of e-bike sales in Europe — especially in Germany — Accell Group's sales last year were up 6 percent, breaking the one billion-euro barrier for the first time in company history.
MONTRÉAL (BRAIN) — During an earnings call Thursday afternoon East Coast time, Dorel executives reassured financial analysts that despite revenue losses in the cycling division, the company is working on maintaining profitability through a number of moves including price increases at Caloi, inventory reduction to improve margins, and cost cutting through restructuring.
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