After a controversial Federal Circuit ruling narrowed when the success of an invention can prove that its corresponding patent is not obvious, the Patent Trial and Appeal Board found that the technology connected to a widely praised bicycle chain ring wasn't patentable after all.
Fox Factory Holding: 4Q Earnings Snapshot
Feb. 25, 2021
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BRASELTON, Ga. (AP) Fox Factory Holding Corp. (FOXF) on Thursday reported fourth-quarter profit of $31.8 million.
The Braselton, Georgia-based company said it had net income of 75 cents per share. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, were 90 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.
The vehicle suspension maker posted revenue of $262.4 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $247.6 million.
For the year, the company reported profit of $90.7 million, or $2.22 per share. Revenue was reported as $890.6 million.