SAN JOSE, CA - Strong bicycle helmet and accessory sales through mass merchant and specialty retailers pushed up net sales for Bell Sports in its second quarter, ending Dec. 26, 1998. Net sales for the quarter increased 6 percent to $45 million, compared to last year's second-quarter sales of $42.6 million. Net sales during the first two quarters were down however, coming in at $85.9 million, compared to $86.2 million last year. Despite the decline, Bell enjoyed a slight increase in gross margins on net sales, with margins inching up 1.7 percent to 32.7 percent for the year. "I am very pleased to report higher gross margins and improved operating income for the quarter, the result of very focused efforts to reduce the company's cost structure and streamline its operations," said Mary George, Bell Sports' chief executive of officer and president. Operating income for the quarter grew to $2.2 million, or 5 percent of net sales, up 1 percent for the quarter, compared to $1.7 million a year ago.

Copyright 1999 by Miller Freeman, Inc, Santa Fe, New Mexico. All rights reserved.

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