October 31, 2018
FIT shares jumped 10% in after hours trading as the company’s net loss narrowed to just $2,056,000 in the third quarter from a loss of $113,403,000 last year on slightly higher sales at $393,575,000 vs. $392,522,000.
James Worthy, most recently VP and general manager of fitness solutions for Life Fitness, will replace Jaime Irick who has left his role as VP and president of the fitness division.
Comprehensive net income increased 19% to IDR 213,011 million ($13.9 mm) from IDR 178,278 million for the nine months ended Sep. 30 as sales jumped 24% to IDR 4,514,240 million ($295.3 mm) from IDR 3,648,902 million.
The U.S. federal court of appeals overruled the ITC on an earlier finding that the stripe on the All-Star midsole was not protectable.
Fitness segment revenues gained 14% to $190,185,000 from $167,147,000 in the third quarter ended Sep. 29 driven by strong wearables sales including the Vivosmart 4 launch.
Net income fell 6% to ¥2,291 million ($20.3 mm) from ¥2,440 million as sales rose 1% to ¥66,768 million ($591.9 mm) from ¥65,959 million.
Net income increased 51% to $24,312,000 from $16,072,000 in the third quarter on a 38% jump in sales to $175,798,000 from $127,399,000.
CODI’s 5.11 Tactical business was the strongest performer, growing 16% to sales of $83,342,000 from $72,005,000 and generating operating income of $1,740,000 against a loss of $253,000.
Six former college and high school football players who suffer from symptoms of brain injuries are suing Riddell parent BRG Sports claiming that it knowingly marketed defective football helmets.