More than $11.4 million in interest costs resulted in a net loss of $7,744,000 for Easton-Bell Sports in its 1st quarter, ended Apr. 1, far below a profit of $169,000 last year. The gross margin dropped by 330 basis points to 33.1 percent. Total revenues grew by 27 percent to $111,172,000. The team sports segment’s operating profit jumped by 74 percent to $4,341,000, on a 67 percent improvement in revenues to $45,703,000, mainly due to $14,943,000 in sales from Easton Sports, which was acquired by Riddell-Bell in March. Operating income for the action sports segment was off by 6 percent to $6,950,000, even though sales were up by 11 percent to $65,469,000, thanks to higher sales of speciality bike products and accessories. The newly formed company then entered a 6-year credit agreement that includes a $335 million term loan and credit lines for the U.S. and Canadian markets. The term loan has been used to help finance the acquisition of Easton Sports.