Earnings/Financial Reports

Posted March 9, 2010

WESTPORT, CT (BRAIN)—Annual sales for Fox Racing Shox fell 7.8 percent in 2009, but the company saw signs of recovery in the fourth quarter with double-digit growth during the last three months of the year.

Posted March 1, 2010

MILAN, Italy (BRAIN)—Oakley posted double digit growth in 2009 despite the rocky economy according to year-end earnings results released Monday by Oakley’s parent, Luxottica Group.

The solid results last year were on top of double-digit growth in 2008, the company said.

Posted February 28, 2010

HEERENVEEN, The Netherlands (BRAIN)—Accell Group cashed in on the growing popularity of bikes for transportation last year, posting a 6 percent increase in sales and a 15 percent spike in profit.

Posted February 25, 2010

PHILADELPHIA, PA (BRAIN)—In the Bicycle Products Supplier Association (BPSA) December report bicycle shipments to dealers fell 9 percent last year. Sales fell a relatively mild 4 percent as the average unit price climbed $18 to $356.

Posted February 16, 2010

WASHINGTON, D.C. (BRAIN)—Imports dropped by more than 3.61 million units in 2009 as bike sales fell during the recession. Overall, importers brought in 14.84 million units last year, a drop of 20 percent from 2008 and the lowest number of bikes imported in a decade.

Posted February 14, 2010

TAIPEI, Taiwan (BRAIN)—Taiwan manufacturers enjoyed a solid start to 2010 with most seeing double digit increases in January revenue.

Giant, the island’s largest bike manufacturer, was up 11.55 percent in January—from $42.7 million in 2009 to $47.6 million for the same month in 2010.

Posted February 14, 2010

OSAKA, Japan (BRAIN)—Shimano’s sales fell to $2.07 billion (186.7 billion Yen) in 2009, down 21 percent from sales of $2.61 billion (235.14 billion Yen) in 2008 and down from its 2007 sales of $2.35 billion (211.77 billion Yen).

Posted February 4, 2010

HELSINKI, Finland (BRAIN)—Mavic’s net sales fell 13 percent in 2009 due to declining OEM orders and weak demand in the U.S., according to year-end financial results released Thursday by Mavic’s parent company, Amer Sports.

Posted January 12, 2010

WASHINGTON, D.C. (BRAIN)—Kids are not only experiencing cuts at school due to the bad economy, but 1.96 million parents decided against a bike purchase for them through November.

Posted January 11, 2010

TAIPEI, Taiwan (BRAIN)—Last year was a bad one for the Taiwanese bike business, according to financial results reported to the Taiwan Stock Exchange. However, sales for 2009, while off the heady 2008 sales results, are still substantially above 2007.

Posted December 29, 2009

PHILADELPHIA, PA (BRAIN)—The Bicycle Supplier Parts Association (BPSA) reports that October on October shipments to retailers fell by 11 percent, and sales fell by 5 percent over 2008. October bicycle imports are also down over last year, according to the Department of Commerce import statistics.

Posted December 10, 2009

TAIPEI, Taiwan (BRAIN)—The bike business is hitting the skids as 2009 wraps up with November sales reports from Merida showing a month on month drop in business of 21 percent, Giant down 14 percent, Kenda down 24 percent and component maker Lee Chi down 20 percent.

Posted December 8, 2009

WASHINGTON, D.C. (BRAIN)—Exports of Made in USA bikes dropped by 1,288 units through the third quarter, a 3 percent drop. A steep drop in shipments to Mexico and Latin America negated the increase in business with Britain, France, Germany, the Netherlands and Pacific Rim nations.

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