August 02, 2018
Net income nearly doubled to $60,867,000 from $31,443,000 in the second quarter on a 30% revenue expansion to $396,311,000 from $304,548,000. With most of its business in the U.S., ELY’s constant currency sales were up 28%, getting a small boost in Asia and a larger benefit in Europe from the weakening dollar.
Net income drove 21% higher in the seasonally important second quarter to $39,907,000 from $33,016,000 on 12% higher sales at $478,138,000 up from $427,988,000, up 9% constant currency.
Income was $109.0 million, a 1% increase over $107.7 million, for the second quarter ended Jul. 1, on sales of $764.2 million compared to $715.4 million.
Net income was $15,189,000, up 49% from $10,199,000, for the second quarter ended Jun. 30 as sales declined 3% to $128,411,000 from $131,854,000.
The net loss was $37,269,000 compared to a loss of $30,536,000 for the second quarter ended Jun. 30 as sales declined 5% to $282,677,000 vs. $296,526,000, but GPRO said channel inventories are at historic lows and demand has recovered to about 5 million units, in excess of the 4.2 million units that it expects to be able to deliver.
Crosman sales and earnings jumped in the quarter, while Liberty Safe and 5.11 Tactical both posted topline improvements.
BMC is recalling about 430 model year 2017 and 2018 Timemachine 01 time trial bicycles and model year 2018 Timemachine 01 framesets because there isn’t enough clearance between the front wheel and downtube.