Bell, Easton and Giro brand owner, Easton-Bell Sports Inc has reported net sales of US$216.3 million in Q1 2012 a gain of 6.3% year on year. Gross margin increased by 230 basis points (bps) to 33.8% from 31.5%, and adjusted EBITDA (earnings before interest, tax, depreciation and amortization) increased by 14.9% to reach US$22.6 million.
“We are pleased with our sales and margin growth in the first quarter, driven by higher average selling prices associated with product innovation and productivity gains within our supply base,” said Easton-Bell Sports President and CEO Paul Harrington.
The company’s Action Sports division saw net sales increase by US$4.8 million, or 5.5% year on year for the first quarter of 2012. This gain came from increased sales of Giro and Bell cycling helmets to the specialty channel, Giro cycling shoes, which were introduced in 2011, and increased sales of power sports helmets driven by new product launches.
Easton-Bell Sports’ 6.3% overall gain in Q2 2012 follows a 16.9% overall gain in net sales in the final quarter of 2011, during which the Action Sports division registered a 7.1% year on year sales increase.
