Earnings/Financial Reports
OLATHE, KS (BRAIN)—Garmin reported total revenue through September was flat compared to the same period a year ago, but revenue across its outdoor and fitness segments was up. Revenue for the third-quarter was down 4 percent to $667 million from $692 million in the third quarter of 2010.
OSAKA, Japan (BRAIN)—Shimano’s net sales climbed 3.7 percent to $2.1 billion (161.6 billion yen) while its operating income dropped 11 percent during the first nine months of 2011.
HELSINKI, Finland (BRAIN)—Sales at Mavic rose 15 percent in the third quarter, with strong growth in wheels and cycling shoes, parent company Amer Sports stated in an earnings call Thursday.
MILAN, Italy (BRAIN)—Luxottica Group S.p.A. reported net sales at its Wholesale Division, which owns Oakley, rose to €555.1 million ($784 mm) in the third quarter ending Sept. 30, from €518.3 million ($669 mm) in the third quarter of 2010.
HEERENVEN, the Netherlands (BRAIN)—Accell Group N.V. has sold its 22 percent stake in Derby Cycle AG to Pon Holdings at a price of €28 per share.
For Accell Group this results in a book profit of €17 million on the sale of its shares in Derby Cycle.
HEERENVEN, the Netherlands (BRAIN)—Accell Group N.V. has taken notice of the intention of Pon Holdings B.V. to make a public offer for all outstanding shares of Derby Cycle
at a price of € 28 per share.
CLOPPENBURG, Germany (BRAIN)—Derby Cycles sold 73,000 electric bicycles in the first nine months of the year, a jump of nearly 86 percent from the same time period last year, according to an earnings report released by the company on Monday.
VAN NUYS, CA (BRAIN)—Easton Bell Sports sales hit $211.9 million in its second quarter ending July 2, an increase of 4.5 percent compared to sales of $202.8 over the quarter last year.
WASHINGTON, D.C. (BRAIN)—Suppliers brought in 17 percent fewer bikes, a shortfall of 1.5 million units, through June compared to the same period last year. The 30 percent drop in kid’s imports, off 1.4 million units, explains most of the overall shortfall.
WATSONVILLE, CA (BRAIN)—Fox Racing Shox saw sales to Europe and Asia grow to $30.4 million over the second quarter, up from $21 million over the same quarter last year.
MONTREAL (BRAIN)—Strong sales in Europe among Dorel Industry’s specialty brands drove nearly 16 percent growth in the company’s cycling segment in the second quarter of the year, according to an earnings report released on Tuesday.
LA CANADA FLINTRIDGE, CA (BRAIN)—Sports Chalet saw its sales total $82.8 million, an increase of 3.9 percent in the first quarter compared with a year ago. Sports Chalet, however, still reported a loss of $0.8 million, or 6 cents a share.
CLOPPENBURG, Germany (BRAIN)—Germany’s Derby Cycle expects to post third-quarter revenue of around 84.4. million euros ($122.3 million), an increase of 35 percent over the same quarter last year.
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