Asics Corp. reported that 2007 first half revenue increased 14.0% to ¥108.74 billion ($912.3 mm) from ¥95.40 billion ($828.1 mm) for the same period last year. Net income jumped 18.2% to ¥8.29 billion ($69.6 mm) from ¥7.02 billion ($60.9 mm).
The company reported continuous growth in running and sport lifestyle in the U.S. and Europe contributed to a 19.6% footwear revenue gain to ¥80.88 billion ($678.6 mm). In the apparel business, sales in Europe slowed down, causing apparel revenues to drop by 3.3% compared to H1 2006 to ¥19.25 billion ($161.5 mm). Due to increased sales of baseball equipment in Japan, the overall equipment business grew by 9.1% compared to H1 2006 to ¥8.60 billion ($72.2 mm).
Continuous strong sales of running shoes helped to further expand the business in the U.S. 18.3% to revenues of ¥26.84 billion ($225.2 mm). Operating income increased 29.6% compared to H1 2006 to ¥2.64 billion ($22.1 mm).
For the full fiscal year 2007, the company expects revenues to grow 17.5% to ¥228.60 billion ($2.06 bn) while operating income will jump 18.5% to ¥24.00 billion ($216.2 mm). Net income should grow 8.1% to ¥15.00 billion ($123.1 mm).
