Leatt Corporation announced its financial results for the first quarter ended March 31, 2014. Leatt Corporation develops and markets protective equipment and ancillary products for all forms of sports, especially extreme high-velocity sports. All financial numbers are in US dollars.
Leatt Corporation announced its financial results for the first quarter ended March 31, 2014. Leatt Corporation develops and markets protective #
First Quarter 2014 Financial Performance
Overall revenues for the first quarter ended March 31, 2014, were $3.5 million, with a net loss of $340,886, or $0.07 loss per share, compared to the previous year’s first quarter, for which the Company reported revenue of$3.2 million, with a net loss of $754,741, or $0.14 loss per share.
Leatt Corporation announced its financial results for the first quarter ended March 31, 2014. Leatt Corporation develops and markets protective #
CEO Sean Macdonald commented, “We followed our strong finish in 2013 with a good start for 2014. Revenue was up 8 percent largely due to an increase in sales of both our signature Neck Brace products and Body Armor products for the period. We broadened the Neck Brace product line during 2013, principally by introducing the Five. Five, a new generation of the classic Leatt Neck Brace design, and our new revolutionary Fusion Vest 2.0, a product for children that includes upper-body and neck protection.
Leatt Corporation announced its financial results for the first quarter ended March 31, 2014. Leatt Corporation develops and markets protective #
“As a result, Neck Brace sales increased to $1.9 million, versus $1.8 million in the first quarter of last year. Overall profit margins increased to 54 percent, from 49 percent in the prior-year period, due to improved gross profit margins earned on Body Armor products, the sale of our new neck brace products at higher margins and a concomitant drop in Cost of Goods Sold. Expenses were carefully controlled, and dropped to $2.3 million from $2.4 million in the first quarter of 2013.”
Leatt Corporation announced its financial results for the first quarter ended March 31, 2014. Leatt Corporation develops and markets protective #
“Keeping in mind that the first quarter is typically our weakest quarter,” Mr. Macdonald added, “we were very pleased that our Body Armor, which is one of our newest product lines, increased to $1.4 million for the quarter, compared to $1.2 million in the first quarter of 2013.
Leatt Corporation announced its financial results for the first quarter ended March 31, 2014. Leatt Corporation develops and markets protective #
"And it is also worth noting that although we participated in our first-ever downhill ski show in February, and actually previewed our new Knee Brace, there were no sales of Knee Brace products in the quarter, as initial salesman sample shipments are due to be made during the current quarter ended 30 June, 2014 and production shipments are expected to follow shortly thereafter.
Leatt Corporation announced its financial results for the first quarter ended March 31, 2014. Leatt Corporation develops and markets protective #
“Additionally, given that our ski product line was only seen midway through the quarter, and that the winter quarter was exceptionally cold and snowy over most of our biggest market geographies, we consider our results to be quite good. We are definitely beginning to see some momentum.”
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