Performance Sports Group earnings score
Exeter-based firm’s revenue up 47% for the year
Performance Sports Group continued its strong performance since expanding into baseball and softball, according to a preliminary earning report.
The Exeter-based sports equipment and apparel company said it expects to finish the last quarter of its fiscal year (ending June 30) with some $147 million in revenue, up 30 percent from the same quarter last year, bringing total revenue to $654 million, up 47 percent.
PSG – formerly Bauer Performance Sports and known for its hockey and lacrosse brands – moved into diamond sports in a big way in April 2014 with the $330 million acquisition of the Easton baseball line from Easton Bell Sports.
The acquisition rounded out quarterly revenue, and increased the company’s market in the United States, and just in time, because the strong dollar offsets revenues for most of its exports. (It has manufacturing facilities in Canada, China, Thailand and Vietnam.)
Without the currency headwinds, revenues would be up 38 percent for the quarter and 51 percent of the year, the company said.
The report did not reveal the company’s expected net earnings, but its adjusted net income would be $8 million, or 17 cents per diluted share, resulting in an annual net income of about $48 million, or $1.03 a share.
Without currency offsets, the company would have posted an adjusted net income of $61.5 million, or 33 cents a share, a 65 percent increase.=