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Leatt has another record-breaking quarter for growth

Published August 12, 2021

CAPE TOWN, South Africa (BRAIN) — Leatt Corporation reported second-quarter revenue increased 106% and net income 257% year-over-year, the fourth consecutive quarter of record-breaking growth for the protective gear manufacturer.

Global revenue for the quarter ending June 30 was $14.3 million, compared with $6.9 million in 2020, and net income jumped from $675,000 to $2.4 million. The numbers were driven by sales increases in body armor (107%), helmets (91%), and other products and accessories (165%).

Six months into 2021, revenue is reported at $27.2 million, up 88%, and net income $4.5 million, up 331% over the same period last year.

Earnings per share for the second quarter was $0.44, up from $0.13 in Q2 2020.

"The numbers for the quarter demonstrate our ability to grow revenues strongly while remaining operationally efficient." said CEO Sean Macdonald.

Macdonald said the company is working closely with its supply-chain team in Asia to ensure adequate supply and mitigate rising raw material and logistics costs.

Leatt is traded on the OTCQB markets under the LEAT symbol.

Topics associated with this article: Earnings/Financial Reports

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