In its fiscal third quarter ended 2 October 2010, Easton-Bell Sports Inc – owner of the Easton, Bell and Giro cycling brands – reported net sales of US$198.8 million, an increase of 10.2% year on year. Meanwhile, gross margin increased to 35% from 34.4%.
The gain in the third quarter followed a strong performance in the second quarter of this year, when Easton-Bell Sports posted an 8% revenue gain in that fiscal quarter ended 3 July 2010.
Commenting on the third quarter results, Paul Harrington, Easton-Bell’s President and Chief Executive Officer, said “Overall, we are pleased with our top line growth and margin improvement during this important quarter in the sporting goods equipment market.”
Sales to key specialty independent bike and snow retailers increased approximately 16% compared to the third quarter of 2009.
In addition to its cycling business, the company is active in action sports, American football, hockey, baseball and softball.
The third quarter margin improvement related primarily to a better sales mix in baseball and softball bats, lower manufactured and sourced product costs and favourable foreign currency exchange rates.
