Ice hockey apparel biz drives revenue at Bauer in Q1 FY'13

"The 12% growth in our Holiday booking orders is further evidence that our high performing products and brands continue to be in strong demand by our customers and consumers".

As of August 31, 2012, BAUER had working capital of $250.4 million compared to working capital of $202.2 million as of August 31, 2011, an increase of 24%. This increase was driven by sales growth of 18% and 4% in the two most recent quarters, the acquisition of Cascade, and a higher mix of advance booking orders by the Company's customers which carry longer payment terms.

The Company continued to manage its balance sheet as its leverage ratio, defined as net indebtedness divided by EBITDA, was 2.78 compared to 2.80 as of August 31, 2011.

Other Recent Highlights

• On June 29, 2012, BAUER completed the acquisition of Cascade, a leading manufacturer and distributor of men's and youth lacrosse helmets in North America for $65.0 million (excluding cash acquired). The purchase price and related transaction expenses were funded through the issuance of approximately C$30 million of new equity and the balance in new borrowings.
• On September 21, 2012, BAUER was added to the S&P/TSX SmallCap Index.
• On September 26, 2012, certain Kohlberg Funds managed by Kohlberg Management VI LLC, BAUER's largest shareholder, entered into an agreement with a syndicate of underwriters to sell 3.6 million common shares of the Company. As of October 2, 2012 the Kohlberg Funds, collectively, own approximately 53.0% of the outstanding common shares on a non-diluted basis (43.8% on a fully-diluted basis). Upon completion of this secondary offering, but before giving effect to the over-allotment option granted to the underwriters, of up to 540,000 common shares, the Kohlberg Funds will own approximately 42.6% of the outstanding common shares on a non-diluted basis (35.1% on a fully-diluted basis), and approximately 41.0% of the outstanding common shares on a non-diluted basis (33.8% on a fully-diluted basis) if the over-allotment option is exercised in full. BAUER will not receive any proceeds from the sale.

Adjusted Gross Profit, EBITDA, Adjusted EBITDA, Adjusted Net Income/Loss and Adjusted EPS are non-IFRS measures. For the relevant definitions and reconciliations to reported results, please see "Non-IFRS Measures" noted below and in the Company's MD&A for the most recent period. Working capital as used above includes trade and other receivables, inventories, and trade and other payables.

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.