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Leatt Q2 revenues rise 25%, continuing year-over-year growth trend

Published August 11, 2022

CAPE TOWN, South Africa (BRAIN) — Leatt Corporation second-quarter revenue increased 25% year-over-year, the 17th consecutive quarter of growth.

Revenue for the quarter ending June 30 was $17.9 million, compared with $14.3 million at the same time last year. Net income for the protective gear brand went up year-over-year 13% to $2.72 million from $2.4 million in 2021. Earnings per share went up slightly, from $0.44 to $0.47.

Apparel, helmet, and off-road motorcycle boot sales were the leading drivers of the second-quarter growth, said Chief Executive Officer Sean Macdonald.

"We continue to build out a global team of sales and brand managers who are focused on specific regional market dynamics and support for our distribution partners and dealer networks."

Macdonald did note port congestion created supply issues for some dealers that resulted in fewer domestic sales during the quarter and first six months of the year.

"We have experienced an easing in these delays as we continue to drive consumer demand to stores with coordinated marketing campaigns and remain committed to investing heavily in our U.S. sales and distribution capacity to reach a wider group of moto and MTB dealers around the country," he said.

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

Topics associated with this article: Earnings/Financial Reports

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