Easton-Bell Sports posted net sales for the first quarter of $111.2 million, a 27.4% jump from sales of $87.2 million last year. Team Sports first quarter net sales increased 67.3% to $45.7 million from $28.2 million. This increase is primarily attributable to $14,943 in net sales attributable to Easton Sports. Other factors contributing to the increase in Team Sports net sales were increased helmet, reconditioning and collectable sales. Action Sports first quarter net sales increased 8.4% to $65.5 million from $59.0 million last year. Action Sports sales increased primarily due to increased sales of specialty bike products and accessories.
Gross margin decreased 330 basis points as a percent of net sales to 33.1% from 36.4%, while SG&A expenses decreased 170 basis points to 24.5% of sales.
The company posted a net loss for the quarter of $7.7 million from a gain of $15,000 during the year-ago quarter.
