Sales grew by 3.8 percent to $154.0 million for Bauer Performance Sports during the first quarter of its financial year, ended Aug. 31, with growth of 4.1 percent in constant currencies and increases of 2.6 percent in North America and 6.9 percent in the rest of the world. Ice hockey equipment revenues declined by 1.9 percent on a currency-neutral basis, but apparel revenues went up by 56.7 percent. The adjusted gross margin declined by 0.2 percentage points to 39.9 percent, and the adjusted operating margin before amortization (Ebitda) fell by 1.5 percentage point to 24.0 percent. R&D expenses increased by 18.3 percent to 2.7 percent of revenues. The quarterly net income was up to $21.3 million from $16.0 million in the year-ago period. The adjusted net income increased to $23.1 million, delivering a healthy net profit margin of 15.0 percent.

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