Compass Diversified Trust (CODI, Financial) filed Quarterly Report for the period ended 2012-03-31.
Compass Diversf has a market cap of $718.7 million; its shares were traded at around $13.39 with a P/E ratio of 13.9 and P/S ratio of 0.9. The dividend yield of Compass Diversf stocks is 9.7%.
Net sales for the three months ended March 31, 2012 were approximately $40.2 million, an increase of $7.6 million, or 23.2%, compared to the same period in 2011. The increase in gross sales is a result of increased sales in Hydration Systems ($7.1 million) and Bottles ($2.3 million) offset in part by a decrease in sales in Gloves ($2.1 million) and Accessories ($0.1 million). The increased sales during the three months ended March 31, 2012 compared to the same period in 2011 is attributable to the continued success of Antidote, CamelBaks new reservoir for the recreational Hydration Systems line introduced in 2011, the expansion of offerings in Bottles such as the introduction of eddyTM, and the continued expansion in its customer base, including new and existing customers, for all product lines. The decrease in Glove sales is principally due to decreased demand from the U.S. military. Sales of Hydration Systems and Bottles represented approximately 84% of gross sales for the three months ended March 31, 2012 compared to 74% for the same period in 2011. Military sales represented approximately 35% of gross sales for the three months ended March 31, 2012 compared to 39% for the same period in 2011.
Selling, general and administrative expense for the three months ended March 31, 2012 increased to approximately $8.5 million or 21.2% of net sales compared to $7.3 million or 22.4% of net sales for the same period of 2011. The $1.2 million increase in selling, general and administrative expenses incurred during the three months ended March 31, 2012 compared to the same period in 2011 is attributable to; (i) increases in sales commissions ($0.4 million); and (ii) increases in marketing costs ($0.2 million), with the balance of the increase due principally to increased infrastructure costs including personnel costs and benefits, and general overhead necessary to support expansion initiatives in connection with current and anticipated increased sales volume.
Net sales for the three months ended March 31, 2012 were $13.7 million, an increase of $2.2 million or 19.3% compared to the same period in 2011. The increase is primarily attributable to Orbit Baby sales of $3.5 million in the 2012 period compared to the same period in 2011 which does not include Orbit Baby performance. Domestic ERGObaby sales were approximately $3.5 million in the three months ended March 31, 2012 compared to approximately $3.4 million in the same period for 2011. ERGObaby international sales, exclusive of Orbit Baby, were approximately $6.7 million in the three months ended March 31, 2012 compared to $8.1 million in 2011, a decrease of $1.4 million. This decrease in international sales is attributable to the timing of deliveries to international distributers. Excluding Orbit Baby sales of $3.5 million, baby carriers represented 88.2% of sales in the quarter ended March 31, 2012 compared to 88.5% of sales during the same period in 2011.
Net sales for the quarter ended March 31, 2012 increased approximately $0.9 million or 4.7% compared to the corresponding quarter ended March 31, 2011. Non-Dealer sales were approximately $12.6 million in the three months ended March 31, 2012 and $12.6 million for the three months ended March 31, 2011. Dealer sales totaled approximately $8.5 million in the three months ended March 31, 2012 compared to $7.6 million in the same period in 2011, representing an increase of $0.9 million or 12.8%. Liberty began domestic production in the first quarter of 2012 for product that was previously being imported. The startup of this new production line negatively impacted Non-Dealer sales, as all of the demand for the product could not be met during the ramp up of the new production process during the quarter. The increase in Dealer sales is due, in large part, to sales generated by our national advertising campaign, which we expanded in 2012, in conjunction with those accounts that maintain consistent Liberty Safe product advertising at the local level. Demand in both the Non-Dealer and Dealer channel exceeded production capacity in the first quarter of 2012. Non-Dealer and Dealer sales are expected to remain strong throughout the balance of 2012 as Liberty continues its national advertising campaign.
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Compass Diversf has a market cap of $718.7 million; its shares were traded at around $13.39 with a P/E ratio of 13.9 and P/S ratio of 0.9. The dividend yield of Compass Diversf stocks is 9.7%.
Highlight of Business Operations:
Net sales for the three months ended March 31, 2012 were approximately $34.5 million, an increase of $2.2 million, or 6.9%, compared to the same period in 2011. The increase in net sales is a result of increased sales in the PMAG ($2.2 million) and the Flexmag ($0.2 million) product sectors, offset in part by a decrease in sales in Rolled products. PMAG sales represented approximately 73.5% of net sales for the three months ended March 31, 2012 compared to 71.8% for the same period in 2011. The increase in PMAG sales is principally attributable to increased sales initiatives in certain market sectors.Net sales for the three months ended March 31, 2012 were approximately $40.2 million, an increase of $7.6 million, or 23.2%, compared to the same period in 2011. The increase in gross sales is a result of increased sales in Hydration Systems ($7.1 million) and Bottles ($2.3 million) offset in part by a decrease in sales in Gloves ($2.1 million) and Accessories ($0.1 million). The increased sales during the three months ended March 31, 2012 compared to the same period in 2011 is attributable to the continued success of Antidote, CamelBaks new reservoir for the recreational Hydration Systems line introduced in 2011, the expansion of offerings in Bottles such as the introduction of eddyTM, and the continued expansion in its customer base, including new and existing customers, for all product lines. The decrease in Glove sales is principally due to decreased demand from the U.S. military. Sales of Hydration Systems and Bottles represented approximately 84% of gross sales for the three months ended March 31, 2012 compared to 74% for the same period in 2011. Military sales represented approximately 35% of gross sales for the three months ended March 31, 2012 compared to 39% for the same period in 2011.
Selling, general and administrative expense for the three months ended March 31, 2012 increased to approximately $8.5 million or 21.2% of net sales compared to $7.3 million or 22.4% of net sales for the same period of 2011. The $1.2 million increase in selling, general and administrative expenses incurred during the three months ended March 31, 2012 compared to the same period in 2011 is attributable to; (i) increases in sales commissions ($0.4 million); and (ii) increases in marketing costs ($0.2 million), with the balance of the increase due principally to increased infrastructure costs including personnel costs and benefits, and general overhead necessary to support expansion initiatives in connection with current and anticipated increased sales volume.
Net sales for the three months ended March 31, 2012 were $13.7 million, an increase of $2.2 million or 19.3% compared to the same period in 2011. The increase is primarily attributable to Orbit Baby sales of $3.5 million in the 2012 period compared to the same period in 2011 which does not include Orbit Baby performance. Domestic ERGObaby sales were approximately $3.5 million in the three months ended March 31, 2012 compared to approximately $3.4 million in the same period for 2011. ERGObaby international sales, exclusive of Orbit Baby, were approximately $6.7 million in the three months ended March 31, 2012 compared to $8.1 million in 2011, a decrease of $1.4 million. This decrease in international sales is attributable to the timing of deliveries to international distributers. Excluding Orbit Baby sales of $3.5 million, baby carriers represented 88.2% of sales in the quarter ended March 31, 2012 compared to 88.5% of sales during the same period in 2011.
Net sales for the quarter ended March 31, 2012 increased approximately $0.9 million or 4.7% compared to the corresponding quarter ended March 31, 2011. Non-Dealer sales were approximately $12.6 million in the three months ended March 31, 2012 and $12.6 million for the three months ended March 31, 2011. Dealer sales totaled approximately $8.5 million in the three months ended March 31, 2012 compared to $7.6 million in the same period in 2011, representing an increase of $0.9 million or 12.8%. Liberty began domestic production in the first quarter of 2012 for product that was previously being imported. The startup of this new production line negatively impacted Non-Dealer sales, as all of the demand for the product could not be met during the ramp up of the new production process during the quarter. The increase in Dealer sales is due, in large part, to sales generated by our national advertising campaign, which we expanded in 2012, in conjunction with those accounts that maintain consistent Liberty Safe product advertising at the local level. Demand in both the Non-Dealer and Dealer channel exceeded production capacity in the first quarter of 2012. Non-Dealer and Dealer sales are expected to remain strong throughout the balance of 2012 as Liberty continues its national advertising campaign.
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