August 24, 2017
As President Trump opens an investigation into China’s protections for U.S. intellectual property rights, a Chinese court has awarded $1.5 million in damages and legal costs to New Balance from three Chinese companies that copied its slanting N trademark.
The company formerly known as Black Diamond will pay $79 million for Sierra Bullets, subject to adjustments, to take over a company that last year had revenues of $32 million and impressive EBITDA of $12.5 million for a multiple of 6.3X.
The decision, which had been foreshadowed by the Trump Administration for months, will scale back the 1.3-million-acre preserve designated by President Obama before he left office.
Net income was $979,000 against a loss of $3,565,000 in the second quarter ended Jul. 29 on 3% sales growth to $206,609,000 from $201,653,000 and gross margins that were 40 basis points higher at 37.0%.
Profits rose 2%to HK 40,163,000 ($5.1 mm) against HK 39,273,000 for the first half ended Jun. 30 as revenues fell 1% to HK 444,996,000 ($56.9 mm) from HK 451,532,000 before a HK 28,082,000 gain on the revaluation of property in last year’s comparable period.
Arc’teryx is recalling about 4,400 pairs of Procline ski mountaineering boots because the axis pin located at the rear of the boot can dislodge, resulting in damage to the boot and posing a fall hazard.