Riddell Bell Holdings Sales Up 208%
August 19, 2005
Filed under Uncategorized
Riddell Bell Holdings, Inc. (RBH) reported net sales for its second quarter, ended July 2, 2005, were $103.78 million, an increase of $70.1 million or 208.0% from sales of $33.69 million for the second quarter 2004. Company officials said entry into the powersports industry was responsible for much of that growth.
Producing more than 8 million helmets annually, Dallas-based RBH is comprised of two formerly independent companies: Riddell Sports Group and Bell Sports Corporation.
“We continue to see sales growth in both segments, which has been enhanced by our entry into new product categories like powersports," said Bill Fry, RBH president and Chief Executive Officer.
Second quarter gross profit was $39.1 million or 37.5% of net sales compared to $15.0 million or 44.6% of net sales in the prior year comparable period.
RBH officials said gross profit changed as a result of the inclusion of Individual Sports; explaining that Individual Sports product margins typically yield a lower margin percentage than Team Sports products and services.
RBH's operating income was $12.3 million for the second quarter, up from $4.2 million for the second fiscal quarter of 2004.
The company's net income was $3.5 million for the second fiscal quarter of 2005 compared to $1.2 million for the second fiscal quarter of 2004. EBITDA was $18.8 million.