February 03, 2017
JOUT reported net income of $4,056,000 compared to a loss of $534,000 for the three months ended Dec. 30 in a seasonally small quarter that saw revenues rise 10% to $93,729,000 from $85,298,000.
FBI NICS background checks dropped for the second straight month following the election, falling 20% to 2,043,184 from 2,545,802 last year.
The bicycle components maker saw its corporate family rating cut to B2 from B1, with Moody’s citing weak operating performance and concerns about the company’s ability to access its revolving credit facility.
As part of its plan to give itself more seasonal balance, Rossignol has acquired Felt Bicycles, a company headquartered in Irvine, CA, with annual sales of about $60 million.
The exact terms of the settlement weren’t revealed but Yeti said that RTIC will make a payment to Yeti and cease sales of all products that were the subject of the lawsuit.
Brendan Sullivan will succeed Karen Murray as head of the unit that includes Nautica and Kipling in North America.