Earnings/Financial Reports
VAN NUYS, CA (BRAIN)—Easton Bell sales declined 11.3 percent for the third quarter of 2009, but the company began to see some signs of stabilization during the period including higher margins in the Action Sports segment, according to an earnings report issued on Wednesday.
TAIPEI, Taiwan (BRAIN)—Sales revenue at Taiwan’s big three manufacturers rebounded slightly in September coming off double-digit drops in August, according to numbers released on the Taiwan Stock Exchange.
MILAN, Italy (BRAIN)—Oakley’s parent company reported its best sales period of the year in the third quarter as European markets showed signs of recovery and the troubled North American market began to stabilize.
CHICAGO, IL (BRAIN)—SRAM’S Stan Day said that the global recession has taken a bite out of the company’s business, reflecting a similar fall off in sales as its competitor Shimano.
OSAKA, Japan (BRAIN)—A slow bike market took its toll on Shimano as the company saw its sales tumble to $1.47 billion (134.44 billion Yen) through September, from $1.87 billion (170.6 billion Yen) last year. The company’s income fell to $149.98 million (13.68 billion Yen) from $307.38 million (28.03 billion Yen).
HELSINKI, Finland (BRAIN)—Mavic's net sales declined by 14 percent for the first nine months of the year, according to earnings report released Thursday by Mavic’s parent company, Amer Sports.
OSAKA, Japan (BRAIN)—Shimano Inc. is slashing its full year profit forecast as U.S. and European consumers cut back purchases on mid- to high-end bicycles and fishing gear, according to Bloomberg News.
WASHINGTON, D.C. (BRAIN)—The number of bicycles imported into the United States dropped by 1.822 million units through August, putting importers on track for one of their smallest years in a decade.
TAIPEI, Taiwan (BRAIN)—Sales revenue for the month of August at Taiwan’s three largest bicycle manufacturers dropped by double digits, yet year-to-date revenue remains relatively stable.
DUARTE, CA (BRAIN)— Dahon has had steady growth in sales for the first half of 2009, with a 6 percent increase in unit volume and a 27 percent increase in revenues, compared with the year earlier period.
WASHINGTON, D.C. (BRAIN)—The Made in USA sticker is giving exporters of kids' bikes a good year so far as shipments reached 14,606 juvenile bikes through June, an increase of 19 percent.
VAN NUYS, CA (BRAIN)—Sales in Easton Bell Sports’ Action Segment, which includes its cycling division, fell 2.3 percent in the second quarter of 2009 as OEM cycling component purchases declined due to soft demand for high-end bikes, according to Paul Harrington, president and chief executive officer of Easton Bell.
WASHINGTON, D.C. (BRAIN)—Whatever the reason, weather or the economy, suppliers did not find parents buying kids' bikes this year. Imports of sidewalk bikes with wheel sizes under 20-inches fell 9 percent through June, while imports of 20- and 24-inch bikes were down 32 percent.
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