Bell Sports Corp. expects lower third quarter 1995 results.SCOTTSDALE, Ariz.--(BUSINESS WIRE)--March 17, 1995--Bell Sports Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BSPT BSPT Bachelor of Science in Physical Therapy BSPT British Standard Taper Pipe Thread BSPT Bachelor of Science in Physics for Teachers , BSPTG) Friday announced that, although results for the third quarter ending April 1, 1995, are not yet final, it is expected they will be near break-even compared to net income of 33 cents in the third quarter of the prior year. The weakness in the current operating results is due to lower than expected quarter to date bicycle helmet A bicycle helmet is a helmet intended to be worn while riding a bicycle. They are designed to attenuate impacts to the head of a cyclist in falls while minimizing side effects such as interference with peripheral vision. sales, caused by a slowdown in the passage of mandatory helmet legislation. A year ago, consumer demand for bicycle helmets in the United Stated was favorably fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. impacted by mandatory helmet legislation becoming effective in seven states during the period July 1993 to June 1994 as compared to one state during the first nine months of fiscal 1995. The current quarterly period is also being adversely affected by lower gross margins due to increased price competition, a sales mix sales mix See product mix. shift to lower price helmets and lower factory operating volumes. The company has significantly reduced factory production levels compared to a year ago to match the lower sales levels and to reduce finished goods inventory levels. The sales and gross margin outlook for the fiscal fourth quarter remains uncertain, however, if current market conditions continue it is likely to be well below last year's record fourth quarter. Terry G. Lee, chief executive officer, commented separately, "The proposed merger with American Recreation Company Holdings Inc. is progressing according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. schedule. The company is currently seeking regulatory approval of the transaction." Headquartered in Scottsdale, Ariz., Bell Sports is a leading manufacturer and marketer of bicycle helmets and accessories as well as auto racing helmets. CONTACT: Bell Sports Corp., Scottsdale Howard Kosick, 602/951-0033 Sondra Lehman, 602/951-0033 ext. 5 (investors) |
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