Q4 net sales rise 9.9% at K2
For its fourth quarter, ended December 31, American branded consumer products company K2 Inc. reported net sales of $388.6 million versus $353.5 million in the prior year, an increase of 9.9%. Net sales for the full year reached a record $1.4 billion, 6.2% higher than in 2005.
Adjusted net income for the fourth quarter was $13.4 million compared with $14.7 million whilst adjusted net income for 2006 was $44.8 million compared with $39 million in 2005, an increase of 14.8%.
President and chief executive officer Wayne Merck attributed the strong growth in its Action and Team section to new product developments ranging from premium alpine skis and integrated binding systems to high performance baseball and softball bats, gloves and accessories.
Net sales of winter products and in-line skates totalled $178.2 million in the fourth quarter, an increase of 22.6%, primarily as a result of increased sales of
