Descente FY2014 Revenues Up Nearly 20 Percent on Weak Yen

Descente Ltd reported revenues of ¥$109.9 billion ($1.08 bn) for the fiscal year ended March 26, up 19.6 percent from the fiscal year ended March 25, 2013.

The Japanese company makes ski and cycling apparel under its own brand and owns distribution rights in Japan and other parts of Asia to a variety of other sports apparel brands, including Arena, Avia, Babolai, Cutter & Buck Arena, le coq sportif, Innov-8, Skins and Umbro.

Gross profits grew 25.3 percent to ¥56.9 billion ($561 mm), or 51.8 percent of revenues. Selling, general and administrative expenses increased 23.4 percent to ¥50.6 billion ($499 mm), or 46.0 percent of revenue. Operating income rose 15.7 percent to ¥6.27 billion ($62 mm), or 5.7 percent of revenues. Net income for the year was ¥4.47 billion ($44 mm) up 25.6 percent from 2012.

For the fourth quarter ended March 26, revenues reached ¥34.0 ($335mm) billion for the quarter ended March 31.

Gross profit reached ¥17.9 billion ($177mm), or 52.6 percent of revenue. Selling, general and administrative expenses reached ¥15.3 billion ($150mm), or 45.0 percent of expenses. Operating income was ¥2.68 billion ($26.4mm). Earnings before income taxes, but excluding unusual items, reached ¥2.74 billion ($27mm). Net income was ¥1.73 billion

By press release


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