Black Diamond's growth rate increased to 24 percent for the third quarter, allowing the outdoor company to reach a record level of $42.0 million in sales for the period. While volumes increased for all the 27 product categories covered by the group, 4 percentage points of the growth came from foreign exchange currency conversions, led by the appreciation of the Swiss franc. The group booked a net profit of $1.0 million for the quarter, compared with a net loss of $3.3 million in the year-ago period. Excluding merger costs and other extraordinary items, Black Diamond reached an adjusted net profit of $4.0 million for the quarter, up from $2.1 million, thanks in part to an increase in the gross margin of 0.7 percentage points to $38.1 million due to a shift to higher-margin products and more favorable exchange rates. Black Diamond's reverse merger with Gregory last year allowed the group to cut operating costs by $1.4 million in the first nine months of this year. The management predicts that it will be on target next year with an overall organic sales increase of 12.5 percent.