The fitness segment of Brunswick Corp., Lake Forest, IL, which is comprised of Life Fitness and Hammer Strength equipment, had a double-digit increase in sales in third quarter 2014.
According to financials announced last week by Brunswick Corp., third quarter 2014 fitness segment sales totaled $189 million, an 11 percent increase from $170.7 million in third quarter 2013. International sales, which represented 52 percent of total segment sales in the quarter, increased by 10 percent.
The fitness segment also reported operating earnings of $25.8 million in third quarter 2014, a slight increase from $25.3 million in third quarter 2013.
The increase in sales reflected growth to U.S. health clubs, hospitality and local and federal government customers, as well as net gains in international markets, Brunswick said. The increase in operating earnings in third quarter 2014, compared to the same period in 2013, reflects the benefit from higher sales, mostly offset by investments in growth initiatives, the company added.
As a company, Brunswick sales increased by 13 percent in third quarter 2014 ($932.1 million) compared to third quarter 2013 ($824.4 million). The company had operating earnings of $93.7 million in third quarter 2014 compared to $62.7 million in the same period last year.
"Pursuant to our strategy to grow in moderate economic conditions, all of our businesses have been investing heavily in growth for several quarters," Brunswick Chairman and CEO Dustan E. McCoy said in a statement. "Our third quarter results reflect the success of our growth investments, and we are well-positioned to continue to generate sales and earnings growth throughout the remainder of 2014 and beyond."