WESTPORT, CT (BRAIN) — Fox sales over the first nine months of the year hit $179.3 million, up $28.8 million over last year. Over the same period, sister company Camelbak saw sales of $121.1 million, $6.4 million over last year, according to financial data released by parent company, Compass Diversified Holdings.
Fox attributes its sales growth to its OEM business that grew to $143.5 million this year, up from $119.6 last year, a 20 percent increase. Increasing spec’ with its current customers accounts for most of the gain. However its aftermarket business is up $4.9 million as well.
The company realized a two percent decrease in gross profit it attributes to increased overhead costs from consolidating its Watsonville, California, operations, and increased costs from expanding its Taiwanese operations. Increased expedited freight costs and warranty costs also cut Fox’s profit.
Sales growth of Camelbak’s hydration systems, up $10.1 million, and bottles, up $8.2 million over the first nine months, offset its falling glove and accessory sales that were down $10.4 million. It attributes decreased glove sales to decreased demand from the U.S. military, resulting from a drawdown of U.S. combat troops during the year.