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Apparel segment sales up 9% at Bauer in Q3 FY'12
12 Apr '12
5 min read
"After growing our revenues 28% in the first half of our fiscal year, we continued to grow nicely in what is traditionally our slowest quarter, with ice hockey revenues growing 14%. In addition, our business generated significant operating cash flow, improving 80% year-to-date over last year. We are looking forward to the upcoming Back-to-Hockey season where customers continue to show confidence in our products and Brands as demonstrated by our 12% increase in booking orders. We believe that this growth is further evidence that our performance sports platform and unique category management structure can produce continuing market share gains," said Kevin Davis, President and Chief Executive Officer, Bauer Performance Sports.
On a trailing twelve-month basis, revenues were $362.4 million, Adjusted Gross Profit reached $141.6 million or 39.1% of revenues, Adjusted EBITDA was $50.4 million, and Adjusted EPS was $0.83.
As of February 29, 2012, Bauer had working capital of $112.3 million including $4.6 million of cash compared to working capital of $78.0 million including $7.6 million of cash as of February 28, 2011. The Company continued to manage its balance sheet as its leverage ratio, defined as net indebtedness divided by EBITDA, remained low at 2.85.
Bauer Performance Sports is reporting under IFRS as a corporate entity. Through May 31, 2011 the Company reported under Canadian generally accepted accounting principles. A full explanation of related accounting changes can be found in the Notes to the Company's unaudited Condensed Consolidated Financial Statements for the first quarter of fiscal 2012 which are available on SEDAR at www.sedar.com and on the Company's website.
The Company's unaudited Condensed Consolidated Financial Statements and MD&A for the period ended February 29, 2012 have been filed with applicable regulatory authorities and are available on SEDAR at www.sedar.com and on the Company's website.
Bauer Performance Sports Ltd. is a leading developer and manufacturer of ice hockey, roller hockey, and lacrosse equipment as well as related apparel.
On a trailing twelve-month basis, revenues were $362.4 million, Adjusted Gross Profit reached $141.6 million or 39.1% of revenues, Adjusted EBITDA was $50.4 million, and Adjusted EPS was $0.83.
As of February 29, 2012, Bauer had working capital of $112.3 million including $4.6 million of cash compared to working capital of $78.0 million including $7.6 million of cash as of February 28, 2011. The Company continued to manage its balance sheet as its leverage ratio, defined as net indebtedness divided by EBITDA, remained low at 2.85.
Bauer Performance Sports is reporting under IFRS as a corporate entity. Through May 31, 2011 the Company reported under Canadian generally accepted accounting principles. A full explanation of related accounting changes can be found in the Notes to the Company's unaudited Condensed Consolidated Financial Statements for the first quarter of fiscal 2012 which are available on SEDAR at www.sedar.com and on the Company's website.
The Company's unaudited Condensed Consolidated Financial Statements and MD&A for the period ended February 29, 2012 have been filed with applicable regulatory authorities and are available on SEDAR at www.sedar.com and on the Company's website.
Bauer Performance Sports Ltd. is a leading developer and manufacturer of ice hockey, roller hockey, and lacrosse equipment as well as related apparel.
Bauer Performance Sports Ltd
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