Huffy Corp (OTC:HUFCQ)
Industry: Industrial Goods
Huffy Corporation is a diversified sporting goods company. The Company markets basketball equipment, sports balls and other outdoor games under the Huffy Sports, HydraRib and SureShot brands; bicycles and wheeled products under the Huffy, Royce Union and Micro brands; golf equipment under the Tommy Armour, Ram, Teardrop and Zebra brands; snowboards and accessories under the LTD, Lamar and Sims brands; Hespeler hockey equipment; Volant ski equipment, and a variety of action sports items including skateboards, inline skates and helmets under the UltraWheels, Rage and Dukes brands. The Company also markets a variety of products as a licensee under Disney, Oxygen, Airwalk, National Basketball Association (NBA) and National Collegiate Athletic Association (NCAA) trademarks. In addition to sales of its products, Huffy also provided assembly and merchandising services to retailers. In May 2004, the Company sold its services to retail segment, which includes Huffy Service Solutions, Creative Retail Services, and Creative Retail Services (Canada), to National Product Services Inc., a portfolio company of H.I.G. Capital, LLC. Sporting Goods Segment Huffy Bicycle Company, Huffy Sports Company and Gen-X Sports Inc. operate in the sporting goods segment and provide consumer products, including wheeled and related products, balls and related products, snowboards, golf equipment, hockey equipment, excess sports equipment and licensing. Sales of wheeled and related products within the segment represented 40% of the consolidated revenue of the Company during the year ended December 31, 2003. Sales of poles, goals and balls within the segment represented 15.6% of the consolidated revenue in 2003. The Huffy-branded wheeled products include Huffy bicycles, scooters and tricycles. Inline skates and skateboards are also included in the wheeled product group and sold under brand names including Dukes, Rage, Oxygen and Ultra Wheels. In 2001, Huffy Bicycle Company terminated its shelter services agreement in Mexico, pursuant to which it imported wheeled products. Huffy Bicycle Company imports Huffy wheeled products from Southeast Asia, including Taiwan and China. Approximately 80% of Huffy Bicycle Company's wheeled products are sold under the Huffy brand name, with the balance being sold under a private label or other brands of the Company. Included in the Huffy product line are adult all-purpose bicycles, adult all-terrain bicycles, a series of boys' and girls' 20-inch bicycles, a series of children's 12-inch and 16-inch sidewalk bicycles and children's ride-on toys, including the Green Machine, scooters and tricycles. In July 1999, the Company acquired the assets of American Sports Design Company, which markets and distributes high-end bicycles primarily available over the Web, through distributors and directly from the Company's advertised order center. In 2002, Huffy agreed to license the trademarks owned by American Sports Design Company, and sell the equipment and inventory associated with the American Sports Design Company business to the licensee. Huffy Sports Company, a former division of the Company sold to Russell Corporation in July 2004, supplied poles, goals and related products; basketball, football and soccer balls, and indoor golf putting greens, indoor games and sports tables for use at home. Huffy Sports Company products, many of which beared the logo of the NBA, as well as the Huffy Sports trademark, were sold predominately through national and regional retailers in the United States. Gen-X Sports Inc., a subsidiary of Huffy Corporation, was acquired on September 19, 2002. It supplies sporting goods, including golf equipment, hockey equipment, snowboards, inline skates and skateboards, and is a broker of excess merchandise primarily in North America. Gen-X markets products internationally, predominately in Europe, and imports the majority of its products from China and Taiwan. Gen-X markets products under brand names within the sporting goods segment, such as LTD, Lamar, Sims, Tommy Armour, Ram, Teardrop, Zebr
As Of: 10/07 00:00 ET
*Quotes delayed by 20min.
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