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Cannondale Rolls Out Results
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Business New Haven
3/4/2002
By: BNH
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BETHEL - Cannondale Corp. (NASDAQ: BIKE) announced results for its second
quarter and first six months of fiscal 2002 ended December 29.
For the three-month period, net sales were $37,783,000, a $3,096,000 (nine percent) increase over the $34,687,000 recorded for the same period last year. For the first six months of fiscal 2002, net sales were $71,937,000 compared to $71,374,000 for the same period a year ago. The sales growth compared to the same periods last year is attributable to the increase in motorsports shipments during the current year, partially offset by lower bicycle shipments, as bicycle retailers continued to shift their inventory receipts closer to the time of sale in spring.
Net loss for the second quarter was $3,406,000, compared to a net loss of $10,571,000a year ago. For the six-month period net loss was $7,529,000, compared to the net loss of $12,198,000 recorded during the prior-year period.
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