USA: Saucony Enjoys Q2 Profit Leap
Sportswear and athletic shoe producer Saucony Inc on Tuesday posted a huge jump second quarter net income to $1.5 million from $176,000 in the year-ago period as it was boosted by new products and cost reductions. The Massachusetts-based company, whose brands include Hind and Spot-bilt, said sales climbed three per cent to $36.5m from 2001 during the quarter, with its first half net income almost doubling to $2.9m, but first half sales slipping 10 per cent to $71.2m.