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BELL SPORTS THIRD QUARTER NET INCOME FROM CONTINUING OPERATIONS UP 295 PERCENT ON 43 PERCENT SALES INCREASE

BELL SPORTS THIRD QUARTER NET INCOME FROM CONTINUING OPERATIONS
 UP 295 PERCENT ON 43 PERCENT SALES INCREASE
 RANTOUL, Ill., April 30 /PRNewswire/ -- Bell Sports Corp. (NASDAQ-NMS: BSPT) today released its first earnings report since the company went public with an initial public offering of 3,450,000 common shares at $15 per share on April 9, 1992. Of the total, 1,700,000 shares were sold by the company. Proceeds to the company were used to reduce debt and for general corporate purposes.
 Net sales for the third quarter ended March 28, 1992, increased 43 percent to $17,939,000 from $12,563,000 a year earlier. Income from continuing operations in the 1992 third quarter rose 295 percent to $1,289,000, or 26 cents per share, from $326,000, or 10 cents per share in the 1991 third quarter. Net income for the 1992 third quarter was $1,932,000, or 39 cents per share, vs. a net loss of $176,000, or 5 cents per share, a year earlier.
 For the nine months ended March 28, 1992, net sales rose 39 percent to $45,468,000 from $32,815,000. Income from continuing operations in the 1992 nine months increased to $2,186,000, or 44 cents per share, from a loss of $1,464,000, or 43 cents per share a year earlier. Net income for the 1992 nine-month period was $3,500,000, or 70 cents per share, compared with a net loss of $2,422,000, or 71 cents per share in the 1991 nine months.
 Net income for the 1992 periods reflects the income tax benefit of tax loss carryforwards relating to losses incurred in prior years for which no tax benefit was recognized for accounting purposes. The loss from discontinued operations in the 1991 third quarter and nine months relates to the company's motorcycle helmet operations which were discontinued in June 1991.
 Chief Executive Officer Terry G. Lee said, "The net sales increase for the 1992 third quarter and nine months was due primarily to strong growth in bicycle helmet sales. BSI brand bicycle helmets and European bicycle helmets achieved significant improvement."
 Headquartered in Rantoul, Bell Sports Corp. is a leading manufacturer and marketer of bicycle helmets in the United States. The company also manufactures and markets other bicycle accessories and auto racing helmets.
 BELL SPORTS CORP.
 (Unaudited; in thousands, except per-share data)
 Periods ended Three months Nine months
 3/28/92 3/30/91 3/28/92 3/30/91
 Net sales $17,939 $12,563 $45,468 $32,815
 Income (loss) from
 continuing operations 1,289 326 2,186 (1,464)
 Loss from discontinued
 operations (A) -- (502) -- (958)
 Net income (loss) before
 extraordinary item 1,289 (176) 2,186 (2,422)
 Extraordinary item:(B)
 Utilization of tax
 loss carryforward 643 -- 1,314 --
 Net income (loss) 1,932 (176) 3,500 (2,422)
 Earnings per common
 share and equivalents:
 Income (loss) from
 continuing operations $.26 $.10 $.44 $(.43)
 Loss from discont. opers. -- (.15) -- (.28)
 Extraordinary item .13 -- .26 --
 Net income (loss) .39 (.05) .70 (.71)
 Average shares and
 equivalents outstanding 5,001 3,406 4,984 3,406
 (A) -- Related to the company's motorcycle helmet operations which were discontinued in June 1991.
 (B) -- Reflects tax benefit of tax loss carryforwards relating to losses incurred in prior years for which no tax benefit was recognized for accounting purposes.
 -0- 4/30/92
 /CONTACT: Howard A. Kosick, chief financial officer of Bell Sports, 217-893-9300/
 (BSPT) CO: Bell Sports Corp. ST: Illinois IN: LEI SU: ERN


CK-OS -- NY036 -- 4845 04/30/92 10:50 EDT
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Publication:PR Newswire
Date:Apr 30, 1992
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