Earnings/Financial Reports
MONTREAL (BRAIN)—Dorel’s bike business increased nearly 8 percent in the second quarter of the year despite impacts from global issues such as currency exchange rates and shipping container shortages.
HELSINKI, Finland (BRAIN)—Mavic’s sales inched up 2 percent in the second quarter of the year and 5 percent for the first half of 2010.
OSAKA, Japan (BRAIN)—In spite of an unseasonably cold and wet January and February, Shimano’s sales increased by $164.4 million to $1.2 billion through June, beating its own forecast.
HEERENVEEN, the Netherlands (BRAIN)—Accell Group said net profit increased 9 percent through the first half of 2010 while turnover was up 3 percent.
BY MATT WIEBE
Bicycles are the answer to dependence on fossil fuels, growing carbon emissions, urban congestion, obesity and a variety of health issues—a perfect storm sure to sweep new bike buyers into shops. So where were the customers last year?
MONTREAL, Quebec (BRAIN)—Dorel Industries’ top bike executive spoke to investors for about 45 minutes during a recent investor relations meeting, highlighting the company’s strategy for growth in the year ahead.
WASHINGTON, D.C. (BRAIN))—Frame and fork exporters, who ended February 67 percent above the year before, really picked up sales over the first quarter. By the end of March they had almost doubled their shipments over 2009, shipping 316,481 kilos of frames and forks, an increase of 155,890 kilos so far this year.
MONTREAL, Quebec (BRAIN)—Dorel Industries’ CEO Martin Schwartz told company shareholders on Thursday that he expected momentum in the bike business to continue into 2010 buoyed by innovative new products and rebounding consumer confidence.
WASHINGTON, D.C. (BRAIN)—U.S. suppliers upped their imports of kids’ bikes by 678,433 units across all juvenile categories through the first quarter, according to numbers from the Department of Commerce. That represents a 48 percent increase over last year.
TAICHUNG, Taiwan (BRAIN)—April revenue at Taiwan’s top two bike manufacturers was up more than 30 percent over the same month last year, potentially indicating an early push for global production of 2011 bikes.
VAN NUYS, CA (BRAIN)—Daily order writing and OEM business for Easton Bell Sports’ cycling brands is starting to pick up after a challenging 2009, Paul Harrington, chief executive officer of Easton Bell Sports, said on Monday.
WESTPORT, CT (BRAIN)—First quarter revenue soared almost 63 percent for Fox Racing Shox due in part to strong sales of mountain biking product, according to earnings figures reported Monday by the company’s parent, Compass Diversified Holdings.
MONTREAL, Quebec (BRAIN)—Revenue and profit grew in Dorel Industries’ bike division during the first quarter of the year as early spring weather and rebounding consumer confidence drove sales at independent bike shops and mass merchants, according to first quarter earnings results released by the company on Thursday
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