Earnings/Financial Reports
FRIEDRICHSHAFEN, Germany (BRAIN)—The value of exports from Taiwan’s bike manufacturers shot up 31 percent in the second quarter of 2010 as the global economy recovered and fuel prices rebounded, according to the Taiwan External Trade Development Council.
TAIPEI, Taiwan (BRAIN)—Revenue from Ideal Bike Corporation’s Taiwan operations rebounded in July after nearly a year on the decline, according to revenue figures released on the Taiwan Stock Exchange.
WASHINGTON, D.C. (BRAIN)—Imports of kids’ bikes through June showed no signs of slowing, according to figures from the U.S. Department of Commerce. Sidewalk bikes, 20-inch and 24-inch categories were up 32, 23 and 51 percent, respectively, compared to the same month in 2009.
VAN NUYS, CA (BRAIN)—Giro has announced plans to broaden its product portfolio with a new line of men’s and women’s cycling shoes set to launch this fall.
WESTPORT, CT (BRAIN)—Fox Racing Shox second quarter revenue saw healthy gains, increasing $4.8 million—a 16.1 percent increase for the same time period in 2009.
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.
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