After announcing the sale of Camelbak to Vista Outdoor (see our previous issue), Compass Diversified Holdings (Codi) reported a net profit of $24,457,000 for the second quarter, more than four times the $5,719,000 profit of the year-ago period, on 6 percent higher revenues of $284.7 million. The main factor was an $11.2 million benefit from an upward adjustment of Codi's accounting for its remaining minority stake of 41 percent in Fox Factory, based on the equity method. Fox Factory itself reported a drop in net income to $6.8 million from $11.6 million in the year-ago period, when it took a one-time $3.7 million net tax benefit. Fax Factory's sales grew by 12.7 percent to $97.2 million, partly because of a rebound in sales of forks and rear shocks for premium mountain bikes.
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