Apparel & footwear maker K2 Inc net sales up 20% for Q2

21 Jul '05

7 min read

Rawlings, Worth, and K2 Licensing & Promotions had total net sales of $68.3 million in the 2005 second quarter, an increase of 11% from the comparable quarter in 2004. The improvement was due to increases in sales of baseballs, gloves, metal softball bats, team apparel and the acquisition of Miken softball bats during the 2004 fourth quarter.

Action Sports
In a seasonally slow quarter, net sales of skis, snowboards, in-line skates, bikes, snowshoes and paintball products totaled $65.1 million in the second quarter of 2005 as compared to $69.2 million in the 2004 second quarter.

The overall sales decline was due to lower sales of paintball products and snowboards and bikes, partially offset by net sales from the acquisition of Volkl and Marker in the 2004 third quarter. The lower profitability in the second quarter of 2005 as compared to 2004 is principally attributable to the acquisitions of Volkl and Marker in the third quarter of 2004, because they are seasonally slow from a sales standpoint in the first and second quarters.

Apparel and Footwear
Earth Products, Ex Officio and Marmot had net sales of $37.6 million in the second quarter of 2005, an increase of 209% over the 2004 period. The increase was due to 66% growth in technical skate footwear and apparel and the acquisitions of Ex Officio on May 12, 2004 and Marmot on June 30, 2004.

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