Precor, Woodinville, Washington, reported net sales of EUR82 million ($90.7 million) in the second quarter of 2015, according to financials released Wednesday by parent company Amer Sports, Helsinki, Finland.
The net sales marked an increase in the second quarter for the fourth consecutive year and a rally from the first quarter's year-over-year net sales drop of five percent in local currencies.
Precor's year-over-year second quarter sales increased six percent in local currencies, with the growth driven by sales in the Asia-Pacific region and Europe, Middle East and Africa region (EMEA). Precor's net sales during the second quarter of 2011 was EUR45.9 million, in 2012 was EUR56.4 million, in 2013 was EUR64.3 million and in 2014 was EUR65.1 million.
Amer Sports reported a year-over-year net sales increase of nine percent across all segments in local currencies during the second quarter for a total of EUR461.1 million ($509 million).
Overshadowing the sales numbers for the fitness segment in the earnings presentation was the announcement of the addition of Queenax to expand Precor's portfolio.
Amer Sports said Queenax complements Precor's strength and cardio offerings, enables Precor to offer complete package deals and called functional training one of the fastest growing segments in the commercial fitness industry. The acquisition will have no material impact on 2015 financial results.
Of the EUR82 million in the fitness segment, the Americas region accounted for 60 percent of the total net sales (EUR 49 million, $54.2 million), EMEA accounted for 23 percent (EUR18.8 million, $20.8 million) and the Asia-Pacific region accounted for 17 percent (EUR 14.2 million $15.7 million).
Precor net sales in local currencies increased one percent in the Americas, 10 percent in EMEA and 22 percent in the Asia-Pacific region.
Precor grew by 25 employees over the last year and reported 959 employees as of June 30. Amer Sports had 7,880 total employees as of June 30.
Amer Sports' outlook for 2015 remained unchanged in its earnings announcement. The company expects net sales in local currencies to increase despite "challenging market conditions." Amer Sports said it will continue to focus on apparel and footwear growth, consumer-driven product and marketing innovation, commercial expansion and operations.
(Editor's note: Second quarter 2015 conversions are based on the currency rate as of July 29, 2015.)