Precor’s Q1 Sales Increase
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Precor, Woodinville, WA, had a 14 percent increase in net sales in first quarter 2011, growing to EUR56.6 million ($84.1 million) compared to EUR45.5 million ($67.6 million) in first quarter 2010, according to financials released by its parent company, Amer Sports, last week.
Sales were up in all geographic regions. In the Americas, sales improved from EUR34 million ($50.5 million) in first quarter 2010 to EUR40 million ($59.4 million) in first quarter 2011.
Sales in the commercial business (clubs and institutions) increased by 13 percent in the review period. Consumer business (home use) sales increased by 21 percent in local currencies. In the North American fitness market, the commercial business started to show some early signs of recovery during 2010, and the market continued to improve through the first quarter of 2011, according to Precor.
“The improvement in [the] Fitness [division] reflects both an improvement in market conditions and our strong commercial gains,” Heikki Takala, president and CEO of Amer Sports, Helsinki, Finland, said in a release.
Later, in a conference call with analysts, Takala said, “The improvement in Fitness reflects both an improvement in market conditions and our strong commercial gains.”
Overall for Amer Sports, net sales totaled EUR449.1 million ($667.4 million) compared to first quarter 2010 net sales of EUR 372.6 million ($553.7 million). In local currencies, comparable net sales increased by 12 percent.
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