Earnings/Financial Reports
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.
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.
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.
HEERENVEEN, the Netherlands (BRAIN)—Accell Group reported to have an expected higher turnover and an increase in net profit of around 10 percent compared to 2008.
WASHINGTON, DC (BRAIN)—Imports of bicycles through September total 11.624 million units, down 2.093 million units over last year, according to the U. S. Department of Commerce import data released this week. Imports of 700c road and hybrid bikes bucked the trend, increasing 10 percent.
WATSONVILLE, CA (BRAIN)—Revenue was down 14.8 percent at Fox Racing Shox for the third quarter of the year as both OEM and aftermarket sales dropped in the weak economy.
MONTREAL (BRAIN)—Third quarter revenue dropped 11 percent in Dorel Industries’ recreational and leisure segment, which includes its bike business, but for the year, the division remains up 1.4 percent.
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.