October 26, 2017
Strength in Europe, Canada and LAAP offset a decline in U.S. sales for the key third quarter as net income to shareholders rose 5% to $87,724,000 from $83,585,000 for the three months ended Sep. 30.
Net income declined 28% to €50.6 million ($59.5 million) from €70.5 million, pulled down by €31.3 million in charges related to its expanded restructuring plan as sales slipped slightly to €733.2 million ($861.6 million) from €736.8 million in the third quarter.
Net income jumped 37% to $51,616,000 from $37,559,000 in its fiscal second quarter ended Sep. 30 boosted by higher margins and lower SG&A while sales slipped 1% to $482,460,000 from $485,944,000 but exceeded guidance.
Net income was down 7% to $79.0 million from $85.4 million on a 4% sales increase to $1,141.5 million from $1,093.0 million for the quarter ended Sep. 30 as the fitness segment saw operating income dip 33% to $19.4 million from $29.1 million while sales rose 2% to $242.8 million from $237.6 million.
He will take over as CEO of ROC immediately, succeeding James Marcotuli who stepped down in Aug. for personal reasons, and will also sit on the company’s board.
Silbert comes to the licensed apparel company from Under Armour, where he was SVP of product and global brand licensing.
The offering by selling shareholders Crestview Partners and an entity controlled by CEO Marcus Lemonis will be priced at $40.50 per share, resulting in proceeds of $312 million if all shares including the overallotment are sold.
Diving Unlimited is recalling about 480 Ocean Management Systems Airstream Evoque regulators for scuba diving because they can malfunction.