On the surface Rossignol appears to be yet another European company with sales being held back by poor U.S. and Asian exchange rates.

Even as the reported nine-month YTD numbers show the effects of the too-strong Euro, the company’s Q3 total sales numbers were up 7.7%, with North American sales growing 4.7% for the period. This quarter is one of the most important periods for Rossignol, with 49% of its Year-to-Date sales coming from the period.

For the first nine months, sales of winter sports equipment at Rossignol totaled €287.2 million ($330.2 million), a 1.9% decline from €292.7 million ($283.3 million) in the year-ago period. In constant exchange rates, Rossi would seen a 1.5% increase.

The effect of exchange rates is accentuated when analyzing the regional sales numbers. Sales in the Alps and Spain for the first nine months were up 10.1% to €152.7 million, from €138.7 million in the YTD period LY, while sales in North America and Asia were both down considerably. Even with the nice increase in N.A. sales for Q3, the year-to-date-numbers are down 10.1%, and Asia is posting a 17.8% decrease.

In spite of the currency problems, the Rossignol brand is meeting expectations.

“The season is progressing satisfactorily for winter sports activity. Sales in Europe are clearly rising and in North America are close to the company’s target,” said a company spokesperson.

Management sees the third quarter as “in-line with the indications given,” and that the “performance to December 31, 2003 has substantially made up for the delays observed at the end of the first half.”

Going in to the fourth quarter, Rossignol is maintaining current guidance of 5% total sales growth for the 2003-2004 year.