Home / Knowledge / News / Apparel/Garments / Apparel net revenues up by 25% in 9-month period at Bauer
Apparel net revenues up by 25% in 9-month period at Bauer
14
Apr '11
Bauer Performance Sports Ltd announced financial results for the third quarter and nine months ended February 28, 2011. This is Bauer's first reporting period since the Company closed its Initial Public Offering on March 10, 2011. In both fiscal periods, Bauer has achieved strong financial results including:

Nine-Month Period Ending February 28, 2011

• Net revenues increased 21% to $237.8 million, up from $197.2 million in 2010.
• Gross Profit increased by 38% to $88.1 million (37% of net revenues) compared to $63.8 million (32% of net revenues) last year.
• Adjusted EBITDA grew by 48% to $33.3 million compared to $22.5 million during the same period in 2010.

Third Quarter Ending February 28, 2011

• Net revenues increased 47% to $48.4 million from $33.0 million in the same period in the prior year.
• Gross profit rose 96% to $15.7 million (32% of net revenues) compared to $8.0 million (24% of net revenues) in the third quarter of 2010.
• Adjusted EBITDA improved 36% to a loss of $2.8 million compared to a loss of $4.4 million during the third quarter of 2010.

"Our expanded product line combined with unique marketing initiatives has created strong consumer demand and increased retailer confidence in our entire brand portfolio," said Kevin Davis, President and Chief Executive Officer. "The strong financial results and growth in our order file for the upcoming season demonstrate that we continue to grow market share across all categories, in all regions."

In addition to Bauer's strong third quarter and nine-month results, the Company also announced that booking orders for its 2011 "Back to Hockey" season (April-September 2011) increased $43.2 million to $178.4 million, or approximately 32% over the 2010 "Back to Hockey" season.

Bauer's net revenues are comprised of booking, repeat and other orders. Although booking orders provide the Company some visibility into its future net revenues for the season, there may not be a direct relationship between the change in booking orders year over year and the anticipated total net revenues change for that season, due to several factors including the potential impact booking orders have on the amount and timing of future repeat orders, for which the Company has little visibility. For a more detailed discussion on Bauer's booking and repeat orders, please see the Outlook section of the Company's third quarter MD&A, which will be available on SEDAR at www.sedar.com.

Apparel net revenues increased by 25% in the nine-month period and 22% in the third quarter following the introduction of Bauer's new protective apparel line as well as increased sales of team apparel. Also contributing to net revenue growth in both periods are net revenues for Maverik lacrosse equipment and related apparel that were not included in our fiscal 2010 net revenues.

Adjusted EBITDA for the nine-month period ending February 28, 2011 increased 48% to $33.3 million. Net Income grew 92% to $2.5 million, including an unrealized loss on derivatives (forward contracts) of $13.2 million. Without the unrealized loss on foreign exchange contracts, net income would have been $11.2 million compared to $1.1 million in the prior period.


Must ReadView All

EU, Japan finalise Economic Partnership Agreement

Textiles | On 18th Dec 2017

EU, Japan finalise Economic Partnership Agreement

Building on the political agreement reached in principle during the...

WTO, ITC launch cotton portal to enhance transparency

Textiles | On 18th Dec 2017

WTO, ITC launch cotton portal to enhance transparency

The World Trade Organisation (WTO) and the International Trade Centre ...

India much behind China in containerised cargo capacity

Textiles | On 18th Dec 2017

India much behind China in containerised cargo capacity

India’s total containerised cargo capacity of 8.75 million...

Interviews View All

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.1%
No
13.8%
Skip
18.1%

Total Votes: 94

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.8%
No
29.8%
Skip
7.4%

Total Votes: 94

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
9.6%
Skip
3.2%

Total Votes: 94

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.9%
No
8.5%
Skip
9.6%

Total Votes: 94


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search