Earnings/Financial Reports
CAPE TOWN, South Africa (BRAIN) — Protective gear brand Leatt Corporation reported an 18th consecutive quarter of growth with third-quarter revenue increasing 5% year-over-year.
WESTPORT, Conn. (BRAIN) — Compass Diversified, which owns BOA, Lizard Skins and PrimaLoft among other brands, recorded sales of $598 million in its most recent quarter, up 22% from the same period last year.
NEW YORK (BRAIN) — Vista Outdoor’s Action Sports group of brands, which includes its bike-related brands, saw sales of $151 million in the company’s most recent quarter, up 44% from the same period last year.
TAIPEI, Taiwan (BRAIN) — Giant Group's net sales totaled NT$70.87 billion ($2.2 billion) through its first three fiscal quarters, a 14.4% increase over the same period last year.
DULUTH, Ga. (BRAIN) — Fox Factory's company-wide sales were up 17.8% in its most recent quarter compared to the same period last year, with sales in the company's bicycle-related Speciality Sports Group up 9.1% in the period to $174 million.
SAN MATEO, Calif. (BRAIN) — GoPro Inc. third-quarter revenue decreased 4% year-over-year but experienced subscription and service revenue growth for the quarter ending Sept. 30.
STOCKHOLM (BRAIN) — Thule Group net sales fell 23% year-over-year as global demand for bike products waned because of high inventory levels.
OLATHE, Kan. (BRAIN) — Garmin Ltd. revenue decreased 4% year-over-year, with the Fitness segment experiencing an 18% decline.
TREVISO, Italy (BRAIN) — Cicli Pinarello said its sales were up 24% in its most recent fiscal year, which closed June 30. The company had sales of 84 million euros ($83.6 million at today’s exchange rate) according to a press release.
OSAKA, Japan (BRAIN) — Shimano said “strong interest” by consumers in bicycles shows signs of cooling down, but demand is still higher than it was prior to COVID-19.
STOCKHOLM (BRAIN) — MIPS reported third-quarter net sales decreased 39% year-over-year, citing reduced demand for bike helmets in its Sport category.
SEYMOUR, Conn. (BRAIN) — Thule Group has made another unusual mid-quarter financial statement, warning investors that its revenues and profits will be down significantly in its third quarter due to over inventory in the bicycle retailer sector.