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Fox Factory reports third consecutive quarter of record sales, bolsters leadership team | Business

Fox Factory has reported financial results for the first quarter ending 2nd April, with a sales increase of 52.5% to $281.1 million, compared to $184.4 million in the same period last fiscal year.
Gross margin increased 410 basis points to 34.8%, compared to 30.7% in the same period last fiscal year and non-GAAP adjusted gross margin increased 410 basis points to 35% compared to 30.9% in the same period last fiscal year.
Net income attributable to Fox stockholders was $38 million, or 13.5% of sales and $0.90 of earnings per diluted share, compared to $8.3 million, or 4.5% of sales and $0.21 of earnings per diluted share in the same period last fiscal year.
“Fox Factory delivered a third consecutive quarter of record sales,” said Mike Dennison, Fox’s chief executive officer. “Our team continues to execute at the highest level, despite the meaningful supply chain challenges which exist across our business. ....

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Fox Factory Holding Corp (FOXF) Q1 2021 Earnings Call Transcript

Operator
Good afternoon, ladies and gentlemen. And thank you for standing by. Welcome to the Fox Factory Holding Corporation s First Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. Please note this conference is being recorded.
I d now like to turn the conference over to your host, Vivek Bhakuni, Director of Investor Relations and Business Development. Thank you, sir. You may begin.
Vivek Bhakuni
Director, Investor Relations & Business Development
Thank you. Good afternoon, and welcome to Fox Factory s first quarter 2021 earnings conference call. I m joined today by Mike Dennison, our Chief Executive Officer; and Scott Humphrey, our Chief Financial Officer and Treasurer. ....

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