Asics Corporation reported that revenues for the fiscal
third quarter ended Dec. 31 grew 11.2% to ¥59.5 billion ($721 mm). The company
reported that overseas regions posted strong sales of running shoes in Europe,
the Americas and Australia. Mainly due to the higher sales and improvements of the
cost of sales ratio overseas, operating income jumped 61.8% for the quarter to
Â¥6.6 billion ($80 mm). Net income for the fiscal third quarter rose 14.9% to
Â¥3.5 billion ($42 mm) due to the accrual of the prior-year income taxes in the
third quarter of the preceding fiscal year.
Domestic Japanese net sales declined 12.9%, but sales in the
Americas increased 31.3% in U.S. dollar terms and 20.7% in Yen terms. In
Europe, fiscal third quarter revenues increased 4.7% in Yen terms. Asia Pacific
revenues increased 16.9% for the fiscal first quarter.
Looking ahead, Asics Corp. expects full year revenues to
come in at ¥237 billion, flat to previous forecasts, while net income was
revised downward to ¥10.0 billion from the previous forecast of ¥10.5 billion
for the year.
For more on this story and many others, go to Sports
Executive Weekly for more in-depth analysis and insight on the regional
numbers.
