Fitness financials: Johnson Health Tech shows huge sales jumps

The Taiwan-based parent company of U.S. brands Matrix, Vision and Horizon has reported a 46 percent increase in net sales for the first quarter of 2005, ended March 31. Johnson Health Tech Co. Ltd. on the Taiwan Stock Exchange (Taiwan: 1736) has reported first-quarter net sales of USD $65.01 million, up USD $20.7 million compared to the same quarter a year ago when sales where reported as USD $44.46 million.
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The Taiwan-based parent company of U.S. brands Matrix, Vision and Horizon has reported a 46 percent increase in net sales for the first quarter of 2005, ended March 31. Johnson Health Tech Co. Ltd. on the Taiwan Stock Exchange (Taiwan: 1736) has reported first-quarter net sales of  USD $65.01 million, up USD $20.7 million compared to the same quarter a year ago when sales where reported as USD $44.46 million.

"The 46 percent sales growth for Q1 exceeded our commitment of 35 percent growth to investors," Peter Lo, JHT chairman, said in a statement. "For the past eight years JHT has maintained a compound average sales growth rate of 35 percent."

JHT reported it had operating profits for the first quarter of 2005 that were 155 percent over the same period of 2004: 1Q 2005 hit USD $10.25 million compared to Q1 2004 results of USD $4.02 million.
According to numbers SNEWS® reviewed on the Taiwan Stock Exchange, JHT had net operating revenues of TWD $1.1 billion (USD $35.2 million) in the first quarter, with net income before taxes of TWD $356.3 million (USD $11.4 million) and a net income after tax per share of TWD $3.08 (USD $0.10). That compares to revenues in the preceding year's first quarter of TWD $640.4 million (USD $20.5 million), showing a 72 percent increase in 2005. One Taiwan dollar equals approximately USD $0.03.

Operating since 1975, the Johnson Corp. (www.johnsonfitness.com) has seven marketing companies including in the United States, Great Britain, France, Germany and Greater China (China and Taiwan). Its brands, sold in 60 countries, are Matrix, Johnson, Vision and Horizon. Matrix as a part of the announcement said that Asia is one of its fastest-growing markets.

"We see this trend continuing for at least the next decade," said Nathan Pyles, president of Matrix Fitness. "Matrix is positioned to benefit most from this global market shift."

Matrix is also fueling its U.S. growth by expanding into establishing a dealer network and has expanded its marketing effort in North America. The company launched an e-newsletter "to share our customer's success stories," said Kent Stevens, vice president of sales. To subscribe to the Matrix Connection e-newsletter, send an email to: connection@matrixfitness.com.

Unless followed by a USD figure in parentheses, conversion of Taiwan dollars into USD has been provided by the company. Other conversions are for information only and based on the conversion rate on May 5. For more information about this company's financial reports, as well as to view stock prices updated every 15 minutes, visit the SNEWS® Stock Market Updates. Click on: www.snewsnet.com/cgi-bin/snews/stock_report.html Â

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