Fox Factory says Q4 numbers at high end of guidance

FoxlogoSCOTTS VALLEY—FOX Factory Holding Corp., the Scotts Valley high-end vehicle shock maker, said last week that its fourth fiscal quarter numbers are expected to come in at the high end of the company’s earlier forecast.

“Our operations team continued its focused execution of our long-term strategy,” Larry L. Enterline, FOX chief executive officer. “As we begin fiscal year 2014, we believe we are well positioned to deliver another year of solid top and bottom line growth.”

FOX said net sales for the fourth quarter ending Dec. Dec. 31, should be about $65 million with earnings per share of 11-13 cents. A year ago in the same quarter, before FOX became a publicly owned company, the company reported $56.6 million in sales and 5 cents per share. FOX noted that the numbers for the most recent quarter included about $3 million of sales originally scheduled to occur in early 2014.

For the full year of 2013, FOX expects to report net sales of about $272 million, or 66-68 cents per diluted share, compared to $235.9 million, or 44 cents per share, in fiscal 2012.

The company also offered preliminary guidance of $53 million to $57 million in net sales and earnings per diluted share of 7–10 cents for the first quarter of 2014 and $275 million–$295 million in net sales and 70-80 cents earnings per diluted share for 2014.

Company shares dropped after the announcement last week but mostly climbed back up by Friday to close at $15.90. Since the company’s IPO on Aug. 7, shares have traded between $14.33 and $20.75.

The company is expected to report its full operating results for the fourth quarter and full year 2013 in the second week of March.


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