Amer Sports in Q1 profit of $25 million

[April 28, 2011]  HELSINKI (AP) -- Global sports equipment maker Amer Sports Corp., whose brands include Atomic, Salomon and Wilson, has reported a first-quarter profit of $25 million (euro17 million) as sales surged more than 20 percent.

The company says net profit was up in the January-to-March period from euro300,000 a year earlier. Revenue in the quarter grew to euro450 million ($660 million) from euro372 million in the same period in 2010.

Amer Sports said it expects the 2010 recovery in the sporting goods market to continue this year, with sales "clearly exceeding the group's long-term financial target of 5 percent growth."

The company's stock surged 7 percent in early afternoon trading in Helsinki.

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Online:

Company site: http://www.amersports.com/

[Associated Press]

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