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Heelys, Inc. Reports Second Quarter 2012 Financial Results

Stocks in this article: HLYS

DALLAS, Aug. 8, 2012 (GLOBE NEWSWIRE) -- Heelys, Inc. (Nasdaq:HLYS) today reported the following financial results for the second quarter ended June 30, 2012. The "Company" and "Heelys" refer to Heelys, Inc., a Delaware corporation, and its direct and indirect subsidiaries.

Year-over-Year Quarterly Comparisons

On a consolidated basis, net sales decreased $2.6 million to $5.7 million for the three months ended June 30, 2012, from $8.3 million for the three months ended June 30, 2011. Domestic net sales decreased $902,000 to $1.8 for the three months ended June 30, 2012, from $2.7 million for the three months ended June 30, 2011. The decrease in domestic sales was primarily due to higher sales during the second quarter of 2011, when compared to the second quarter of 2012, which was the result of certain first quarter 2011 orders that could not be fulfilled until the second quarter of 2011 as a result of production delays, and decreased inventory replenishment orders during the second quarter of 2012 from certain of our retailers resulting from those retailers having carryover inventory from the 2011 Holiday season, and a lower average sales price per pair of HEELYS-wheeled footwear sold during the second quarter of 2012 when compared to the same period last year. International net sales decreased $1.7 million to $3.9 million for the three months ended June 30, 2012, from $5.6 million for the three months ended June 30, 2011. The decrease in international sales was primarily the result of decreased sales of HEELYS-wheeled footwear in our French, German and Italian markets, offset by sales increases in Japan and with third-party distributors, and sales of our third party scooter and skateboard lines in France and Germany which accounted for approximately $615,000 of our net sales for the three months ended June 30, 2012.

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