Leatt Corporation Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 11, 2022 at 08:00 am EDT
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Leatt Corporation reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 17.94 million compared to USD 14.3 million a year ago. Net income was USD 2.73 million compared to USD 2.41 million a year ago. Basic earnings per share from continuing operations was USD 0.47 compared to USD 0.44 a year ago. Diluted earnings per share from continuing operations was USD 0.44 compared to USD 0.39 a year ago.
For the six months, sales was USD 42.17 million compared to USD 27.2 million a year ago. Net income was USD 6.95 million compared to USD 4.47 million a year ago. Basic earnings per share from continuing operations was USD 1.2 compared to USD 0.82 a year ago. Diluted earnings per share from continuing operations was USD 1.12 compared to USD 0.72 a year ago.
Leatt Corporation designs, develops, markets and distributes personal protective equipment for participants in various forms of motor sports and leisure activities, including riders of motorcycles, bicycles, snowmobiles and all-terrain vehicles (ATVs), as well as racing car drivers. The Company sells its products to customers across the world, through a network of distributors and retailers. It also acts as the original equipment manufacturer for neck braces sold by other international brands. The Company's products are based on the Leatt-Brace system, an injection molded neck protection system, designed to prevent devastating injuries to the cervical spine and neck. The Company's other products include other products, parts and accessories are comprised of goggles, hydrations bags and apparel items including jerseys, pants, shorts and jackets as well as aftermarket support items required primarily to replace worn or damaged parts through its global distribution network.