Third Quarter Sales Increased 12.9% to $82.3 Million Third Quarter Net Income Increased 81.5% to $9.9 Million and Adjusted EBITDA Increased 29.8% to $17.3 Million
SCOTTS VALLEY, Calif., Nov. 6, 2013 (GLOBE NEWSWIRE) -- Fox Factory Holding Corp. (Nasdaq:FOXF) ("FOX") today reported financial results for the third quarter and nine months ended September 30, 2013.
Third Quarter Fiscal 2013 Highlights
- Sales increased 12.9% to $82.3 million compared to $72.9 million in the same period last fiscal year, driven by strong sales growth for both mountain bike and powered vehicle products
- Gross margin increased 320 basis points to 30.8% compared to 27.6% in the same period last fiscal year
- Net income increased 81.5% to $9.9 million compared to $5.5 million in the same period last fiscal year
- Non-GAAP adjusted net income increased 94.2% to $12.1 million compared to $6.2 million in the same period last fiscal year
- Adjusted EBITDA increased 29.8% to $17.3 million compared to $13.4 million in the same period last fiscal year