Easton-Bell Sports Inc – owner of the Giro and Bell bike helmet brands and Easton bike wheels, amongst other brands – has reported net sales of US$212.5 million for the third quarter of fiscal 2011. This represents an increase of 6.9% year on year.
“We are pleased with our sales and margin growth driven by our new product launches, which allowed us to continue to invest in our brands while also increasing our profitability in the quarter,” said Paul Harrington, President and Chief Executive Officer.
The company noted double-digit increases in sales of Easton branded wheels and components, and strong demand for the recently introduced line of Giro cycling shoes.
Gross margin for the third quarter of fiscal 2011 was 35.6%, as compared to 35.0% for the third quarter of fiscal 2010. The margin gain was driven by ‘a strong sales mix of football helmets and increased sales of higher margin cycling helmets, which was dampened by reduced sales of snow helmets in Europe and close-out sales of ice hockey equipment.’
