OSAKA, Japan (BRAIN)—A slow bike market took its toll on Shimano as the company saw its sales tumble to $1.47 billion (134.44 billion Yen) through September, from $1.87 billion (170.6 billion Yen) last year. The company’s income fell to $149.98 million (13.68 billion Yen) from $307.38 million (28.03 billion Yen).

Shimano bicycle component sales were $1.13 billion (102.87 billion Yen) through the third quarter, compared with $1.46 billion (133.5 billion Yen) in 2008, a fall of 23 percent. However, Shimano had a stellar 2008, as did most in the bike industry and its ’08 third quarter bicycle component sales were 19 percent over 2007. The company’s sales so far this year track closer to its 2007 sales.

Shimano contributes its falling sales to sluggish sales of mid-range and high-end bicycles in North America, and inventory adjustment of retailers over the same period.

More here: http://www.bicycleretailer.com/news/newsDetail/3345.html