Yue Yuen Industrial Holdings Limited reported that consolidated net sales for the first quarter of fiscal 2008 ending December 31, 2007 increased 20.2% to $1.15 billion, while net income increased 7.9% to $105.0 million.
Footwear manufacturing turnover increased 13.9% to $854.0 million with footwear production volume increasing 16.4% to 64 million pairs. Wholesale and retail sales in China, Hong Kong and Taiwan increased 84% to $163.7 million.
Sales of Athletic Shoes increased 19.2% to $663.5 million, but Casual/Outdoor sales declined 3.1% to $169.5 million. Sports Sandals sales increased 13.5% to $21.0 million.
Sales to the U.S. increased 3.5% to $347.2 million as sales to Canada increased 7.6% to $21.2 million.
For the first two months of the fiscal second quarter, net sales increased 25.6% to $780.4 million.
