Cannondale: Annual Bicycle Profits up

BETHEL/CT, USA (August 15) – Cannondale Corp. reported a 16% higher $9.55 million (€ 9.85 million) pre-tax income in its bicycle division over its fiscal year 2001/02, which ended on June 30, 2002. The increase came from stronger bicycle margins to 33.8% from 31.8% in 2001. Its bicycle net sales fell 5% to $134.6 million