Black Diamond reports record Q1 2012 results
08/05/2012
Total sales in the first quarter of 2012 increased 19% to $46.4 million, compared to $39.1 million in the first quarter of 2011. The growth in sales was attributable to a number of innovative products as well as consistent execution in the sale and marketing of existing products.
Gross margin in the first quarter of 2012 increased to 40.1%, compared to 38.6% in the year-ago quarter.
“The solid momentum we built throughout 2011 clearly continued into the first quarter of 2012,” said Peter Metcalf, president and CEO of Black Diamond. “In fact, we grew across nearly every primary category, driving double-digit sales growth for our Black Diamond Equipment and Gregory brands. This was accomplished despite soft big ticket ski product and glove and mitten sales, which we believe demonstrates the resilience and multi-season balance of our product line.
“For the remainder of 2012, we expect to continue to strategically invest in Black Diamond's operational platform to ultimately support an anticipated much larger and more mature organisation. Among other initiatives, we believe that these investments will prepare us for our expected fall 2013 apparel launch, which remains well on track. The SKUs for the collection have been established and we've already initiated work on our spring and fall 2014 designs.”
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