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Easton-Bell Sales Slide Due to Bad Weather

Easton-Bell Sports Inc. reported a decrease in adjusted earnings in its first quarter, largely due to a spring season that was soft for its cycling business. The Van Nuys sporting goods manufacturer reported EBITDA, or earnings before interest, taxes, depreciation and amortization, of $19.9 million, a decrease of $2.7 million or about 12 percent, in the quarter ended March 30, compared to the same quarter a year earlier. Net sales fell 4 percent to $216 million. Easton-Bell is a privately held company but reports limited financial information because its debt trades on public markets. The company blamed weather and the impact it had on its cycling business for the weak quarter. That was reflected in a net sales decrease of 9.4 percent to $8.6 million in the Action Sports division. “Our businesses continue to perform well with growth in Riddell football, Easton baseball/softball and Bell powersports, dampened by the late spring weather-related impact on our cycling businesses,” said Chief Executive Terry Lee, in a prepared statement. The company’s public debt totaled $368.2 million at the end of the quarter, a decrease of $14.1 million compared to a year earlier. The earnings release comes less than one month after reports that the company may be up for sale for up to $900 million. Both Easton-Bell and Fenway Partners LLC, the New York private equity firm that owns the company, have declined to comment on the matter.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.
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