Easton-Bell Sports, Inc. saw net sales for the second quarter increase 91.1% to $198.3 million from $103.8 million last year. This increase is primarily attributable to $86.5 million in net sales from the acquired Easton Sports business. For the second fiscal quarter of 2006, gross margins were 31.5% of sales as compared to 38.6% of sales for the prior year.
Team Sports net sales increased $84.5 million or 225% to $122.0 million from $37.6 million the prior year. In addition to the acquisition of Easton Sports, other factors contributing to the increase in Team Sports net sales included increased football helmet, reconditioning and clothing sales. Team Sports gross profit decreased to 29.2% primarily due to the acquisition of Easton Sports.
Action Sports net sales increased 15.1% to $76.2 million when compared to the prior year. Action Sports sales increased primarily due to the addition of Easton Sports bike business and increased sales of helmets and fitness equipment. Action Sports gross profit of 35.3% of net sales increased 2.3 percentage points compared to the prior year primarily due to increased sales in helmets and accessories, partially offset by higher material costs.
Net income increased 80.7% to $6.3 million from $3.5 million during the second quarter of last year.
