BIC Group Reports Third Quarter and Nine Month 2013 Results
BIC Group, parent company to BIC Advertising & Promotional Products (BIC APP), reported its 2013 third quarter and nine month results this week. The group as a whole reported sales of approximately $1,942.9 million (1,407.9 million euros) for the nine-month period, up 2.6 percent on a comparative basis from same period in 2012. Net sales for the quarter were up 3.5 percent on a comparative basis at $649.15 million (470.4 million euros).
BIC APP, which includes supplier Norwood & BIC Graphic, net sales decreased 6.2 percent on a comparative basis in that nine-month period, and 2.3 percent on the quarter, also on a comparative basis. The company's third-quarter sales were $95.77 million (69.4 million euros), and for the nine-month period, sales were $254.61 million (184.5 million euros).
Despite the decline, BIC Group forecasts improved promotional product sales going into the fourth quarter and next year. In a statement, the company said, "The third quarter showed some recovery as we are back to providing best-in-class industry service level. Our new products, especially britePix imprinted technology products, have been well-received by customers, performing in line with our expectations."
The full earnings statement is available on BIC Group's website.