Higher selling prices boosted the results of Exceed Company, the Chinese firm that markets the Xidelong brand of sports shoes and apparel, for the third quarter ended Sept. 30. The company has reported a 41 percent rise in net income to 156.1 million renmimbi (€18.2m-$24.6m) on 28 percent higher revenues of RMB 1,066 million (€124.5m-$167.8m). The gross margin improved by 1.4 percentage points to 16.8 percent, helped by higher average selling prices (ASPs). Sales of footwear rose by 35 percent, with ASPs up by 6.5 percent. Apparel sales increased by 22 percent, but they would have declined without a boost in ASPs of 28 percent. Revenue growth is expected to soften to between 11 and 13 percent in the fourth quarter. Exceed plans to produce 30 million pairs of shoes in 2012 and to have its own apparel manufacturing facilities in place by the end of 2013.

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