October 25, 2017
The Eager Beavertons now say their five-year growth target is high-single digits, down from low double digits, as the North American market slows and they focus more resources on China and other emerging opportunities, but it said EPS growth will remain in the mid-teens with gross margin expanding on average 50 b.p. per year.
Net income was $3,060,000 against a loss of $5,866,000 last year as sales jumped 30% to $243,604,000 from $187,850,000 in the seasonally small third quarter, a period in which ELY usually reports a loss.
Net income quintupled to $2,234,762 from $445,629 in the third quarter despite 12% lower sales at $64,675,082 vs. $73,218,247 as gross margins expanded 320 basis points to 30.2%.
ASTM International is seeking a revision to its F1936 “specification for impact attenuation of turf playing systems as measured in the field” to reduce the risk of impact injuries.