Easton-Bell Sports Inc – which owns the multisport and cycling brands Easton, Bell and Giro – has continued its growth path. The company had total net sales of US$177.1 million for the fourth quarter of fiscal 2010.
This represented an increase of 8.2% when compared to the US$163.8 million of net sales for the fourth quarter of 2009.
Gross margin in the final quarter of last year increased to 33.4%, up from 31.4%, and adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) increased by US$2.3 million or 13.8%.
For the 2010 fiscal year overall, the company’s net sales of US$772.8 million rose 7.9% year on year (up 6.6% on a constant currency basis). For the year in full, gross margin increased to 34.0% from 32.7% and adjusted EBITDA increased by US$12.9 million or 15.7%.
“Overall we are pleased with both our fourth quarter and results for the year as we were able to deliver top line, margin and EBITDA growth while also investing in our key product launches scheduled for 2011,” said Paul Harrington, President and Chief Executive Officer.
Headquartered in Van Nuys, California, the company has thirty facilities worldwide. With the Bell and Giro brands in its stable, Easton-Bell is a major force in the cycling helmets category.
Easton-Bell’s Action Sports division saw net sales increase US$4.9 million, or 6.4% for the fourth quarter of fiscal 2010, primarily due to strong fill-in orders for snow sports helmets and goggles, strong sell-through of cycling helmets and increased sales of Easton cycling wheels to both aftermarket and OEM customers.
For fiscal 2010, Action Sports net sales increased by US$16.7 million, up 5.1% as compared to fiscal 2009, or a 4.6% increase on a constant currency basis.
