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CamelBak sales down 5% in first quarter

Published May 7, 2015

PETALUMA, Calif. (BRAIN) — CamelBak sales for the first quarter this year were down 4.8 percent from the same period last year, a decline the company attributed to the strong U.S. dollar, the West Coast port shutdown and a continued downsizing of the U.S. military.

CamelBak is a division of publicly traded Compass Diversified Holdings, which also owns the Ergobaby and Liberty Safe consumer brands and industrial divisions including American Furniture Manufacturing. Compass spun off Fox Factory in an IPO in 2013.

In its quarterly financial report released Wednesday, Compass said CamelBak’s net sales were $36.9 million, a decrease of $1.8 million compared to the same period in 2014.

CamelBak’s hydration system sales were down by $2.6 million but that was offset in part by a $800,000 increase in gross sales in bottles and a $400,000 increase in sales of accessories.

Besides the factors cited above, the company said the timing of shipments for some CamelBak hydration packs affected sales in the first quarter. The company said it shipped a lot of new models to retailers late in 2014, which softened sales in early 2015.

Sales of hydration systems and bottles represented approximately 86 percent of CamelBak’s gross sales for the quarter, compared to 87 percent for the same period in 2014. Military sales were approximately 19 percent of gross sales this quarter, compared to 20 percent for the same period in 2014.

Overall Compass Diversified reported net sales of $257 million, up from $246 million last year. It reported a net loss for the quarter of $24.9 million.

Compass Diversified is traded on NYSE under the CODI symbol. Its stock performance is tracked on the BRAIN stock page

Topics associated with this article: Earnings/Financial Reports

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