Leatt Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 09, 2022 at 08:00 am EST
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Leatt Corporation reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 23.26 million compared to USD 22.1 million a year ago. Net income was USD 4.09 million compared to USD 4.29 million a year ago. Basic earnings per share from continuing operations was USD 0.7 compared to USD 0.79 a year ago. Diluted earnings per share from continuing operations was USD 0.65 compared to USD 0.69 a year ago.
For the nine months, sales was USD 65.43 million compared to USD 49.3 million a year ago. Net income was USD 11.04 million compared to USD 8.76 million a year ago. Basic earnings per share from continuing operations was USD 1.9 compared to USD 1.61 a year ago. Diluted earnings per share from continuing operations was USD 1.77 compared to USD 1.42 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.