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Fox Factory Holding beats Street 1Q forecasts

SCOTTS VALLEY, Calif. (AP) _ Fox Factory Holding Corp. (FOXF) on Wednesday reported first-quarter earnings of $10.5 million.

The Scotts Valley, California-based company said it had net income of 27 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, came to 35 cents per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.

The vehicle suspension maker posted revenue of $106.3 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $97.3 million.

For the current quarter ending in July, Fox Factory Holding expects its per-share earnings to range from 32 cents to 38 cents.

The company said it expects revenue in the range of $113 million to $119 million for the fiscal second quarter.

Fox Factory Holding expects full-year earnings in the range of $1.36 to $1.46 per share, with revenue ranging from $435 million to $455 million.

Fox Factory Holding shares have increased roughly 8 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $29.85, a climb of 71 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FOXF at https://www.zacks.com/ap/FOXF

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Keywords: Fox Factory Holding, Earnings Report