WESTPORT, CT (BRAIN)—Compass Diversified Holdings posted growth through the third quarter for Fox Racing Shox and CamelBak, according to an earnings report it filed Tuesday. Compass is parent company of both brands.
Fox’s net sales reached $61.7 million in the third quarter, a gain of half a percent over the same period last year. The suspension brand represented 13 percent of Compass’ quarterly business. OEM sales to automotive, bicycle and power vehicles segments accounted for $50.6 million of this total, $1 million over last year. Aftermarket sales dropped $0.6 million to $11.1 million. Fox attributed the decrease to its power vehicles segment.
Compass didn’t break out Fox’s sales of suspension products to mountain bike suppliers, but the company did say they declined $3 million in the third quarter. It attributed the drop to a return to historical buying patterns. Mountain bike sales were higher than normal in the third quarter of last year due to a delay that pushed some second-quarter sales into the third quarter, and ultimately lifted early 2011 sales.
Through the first nine months of the year, Fox’s sales totaled $150.5 million, compared with $128.8 million in 2010, a 17 percent increase. OEM accounted for $119.6 million and aftermarket for $30.8 million.
Through September, Fox’s OEM sales to bike suppliers were up $5.6 million over last year. Aftermarket bike sales through September totaled $1.7 million. Compass didn’t break out its total bike business.
Meanwhile, CamelBak, which Compass acquired in August, posted third-quarter sales of $38.3 million, up 37 percent compared to the same period in 2010.
Compass attributed the growth to strong sales of CamelBak’s Antidote and other hydration packs and bottles, which were up $8 million, and gloves and accessories, which were up $2.4 million. CamelBak sales made up 8 percent of Compass’ quarterly business.
For the first nine months of the year, CamelBak’s sales totaled $114.7 million.
—Matt Wiebe
mwiebe@bicycleretailer.com
