K2 Profit Drops; Revenue Climbs
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From a Times Staff Writer
K2 Inc., which makes skis, snowboards, inline skates and Rawlings baseball equipment, said first-quarter profit fell to $138,000, or 1 cent a share, from $3.8 million, or $2.01, a year earlier. The results included a charge of $4.4 million, or 24 cents a share, tied to the early repayment of debt.
Sales grew 6.5% to $157.1 million. The Carlsbad-based sporting goods maker said operating profit in the January-March period rose 3.5%, to $8.8 million.
K2 shares rose 8 cents to $8.77 on the NYSE.
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