Thule Q1 Sales Helped by Quad Lock
Net income dipped 11% to SEK 266 million ($23.9 mm) from SEK 300 million in the first quarter on sales that improved 10% to SEK 2,662 million ($239.6 mm) from SEK 2,420 million. Organic sales declined 3% but revenues got a 13% boost from the Quad Lock acquisition, representing a new performance phone mount category for bikes and motorcycles. North America continued to be challenged, with reported sales up 11% to SEK 555 million ($50.0 million) but down 13% on an organic basis as Canadian growth could not offset U.S. declines. ... Log in to view full article.