Easton-Bell's net sales declined by 4.0 percent to $207.6 million in the first quarter, but its gross margin improved by 1.6 percentage points to 35.8 percent, as compared to the same period a year ago. Excluding severance expenses for the recently dismissed managers of the company, the operating profit before amortization (Ebitda) increased by 6.6 percent to $22.6 million. Team Sports sales were flat, as lower sales of hockey sticks offset gains in Riddell equipment for American football and in Easton equipment for baseball and softball. The company's Action Sports segment showed a 9.4 percent decline, mainly due to the company's exit from the fitness sector and to weather conditions that stifled sales of cycling products. These factors were partially offset by sales growth of 44 percent in Bell powersports helmets, continued market share gains for Giro footwear and Giro's launch of its cycling apparel line. The company ended up with a quarterly net loss of $2.1 million against profit of $1.3 million in the year-ago period.

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