Bauer Performance Sports Q1 FY'14 sales rise 4%

On a trailing twelve-month basis, revenues were $405.2 million, Adjusted Gross Profit reached $153.5 million or 37.9% of revenues, Adjusted EBITDA was $61.3 million, and Adjusted EPS was $0.98.

The Company continued to manage its balance sheet and generate strong cash flow as its leverage ratio, defined as net indebtedness divided by EBITDA, reduced to 2.70 compared to 2.78 as of August 31, 2012. As of August 31, 2013 Bauer had working capital of $267.7 million compared to working capital of $250.4 million as of August 31, 2012. This year-over-year increase was due primarily to higher inventories and receivables related to the acquisifations of Inaria International, Inc. and Combat Sports.

SELECTED HIGHLIGHTS

Combat Sports became the exclusive provider of bats for the NCAA Division I Washington State University ("WSU") baseball program for three years, beginning with the upcoming 2014 season. WSU plays in the competitive Pacific-12 Conference (PAC-12), and has made 16 appearances in the NCAA regional tournament and reached the College World Series four times. The team has produced 23 Major League Baseball draft picks in the last five years.

BAUER and Hockey Canada announced the next phase of their Grow the Game partnership, including initial research study results as well as the creation of pilot programs developed to specifically address the results of those findings.

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