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Sunday, Mar 26, 2023

Big Drop in Income for Easton-Bell Sports

Net income for sports equipment manufacturer Easton-Bell Sports Inc. fell by 75 percent in the second quarter as consumers and municipalities continued to curb spending. The Van Nuys-based company had a drop in both team sports and action sports equipment sales as fewer baseball and softball bats, cycling components and power sports helmets were purchased. For the quarter ending July 4, Easton-Bell reported a net income of $3.9 million on revenues of $187.3 million. For the same period a year ago, the company had net income of $15.5 million on revenues of $220.8 million. The company had a cash infusion of $12.9 million in August from investors and management to be in compliance with its debt covenants. Mark R. Madler

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