WESTPORT, Conn. (BRAIN) — Compass Diversified (CODI), the owner of Boa, Lizard Skins, PrimaLoft and other brand names, had net sales of $542 million in its very first quarter, up 6% from the exact same quarter in 2015.
The net sales boost in the quarter was mainly due to the addition of earnings from PrimaLoft, which it got in July 2022. On a pro forma basis, presuming CODI had actually gotten PrimaLoft on January 1, 2022, net sales were up 1% in the very first quarter of 2023.
“The strength and toughness of our varied subsidiaries were specifically obvious in the very first quarter,” said Elias Sabo, the CEO of Compass Diversified. “The truth that we had the ability to grow sales on a combined basis in the middle of the background of broad and distinct macroeconomic difficulties is an amazing outcome for CODI. This definitely shows our thesis that our top quality, superior brand names can still take market share in hard financial environments.”
Net earnings in the quarter was $109.6 million versus $29.7 million in 2015, a boost mainly due to the $98.0 million sale of Advanced Circuits in February 2023.
CODI is the previous owner of Fox Factory (now an independent business) and CamelBak (now owned by Vista Outdoors).