Leatt Corp (LEAT) Reports Q2 EPS of $0.12 on Revenues of $6.9M

Leatt Corp (OTC: LEAT) reported Q2 EPS of $0.12, versus $0.01 reported last year. Revenue for the quarter came in at $6.9 million, versus $5.28 million reported last year.

Financial and Business Highlights

• Revenues increased by 32%, to $6.9 million for the quarter, compared to the 2019 second quarter
• Net income grew by 815% for the quarter, compared to the 2019 second quarter, to $1 million on a year to date basis
• Strong revenue growth fueled by continued investment in "Head-to-Toe" brand delivery

Leatt CEO Sean Macdonald said, "We had a remarkable second quarter this year, the best second quarter in our history in terms of revenue, despite the global turmoil caused by the Covid-19 pandemic. Total global revenues for the quarter were $6.9 million, an increase of 32% over the second quarter of 2019. We saw revenue growth in virtually all of our "Head-to-Toe" product categories. Our line of helmets and footwear – which include our motorcycle boots and mountain biking shoes – are all trending higher, and the sustained strong demand from a wider rider audience, that we are seeing for our line of body protection, is particularly encouraging.

"International revenues grew by 16% during the quarter, while revenues in the U.S. grew by a staggering 51%, led by strong e-commerce sales and a resurgence in demand from MOTO dealers, MTB dealers and ultimately, end consumers. We believe that this strong demand is in part due to the growth experienced in the outdoor industry at large, as a result of consumer preference for being outdoors during the pandemic. This trend is especially noticeable in the bicycle industry, which has helped drive demand for our mountain biking products."

For earnings history and earnings-related data on Leatt Corp (LEAT) click here.

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