PLANET FITNESS REPORTS HEALTHY JUMP IN 3Q REVENUE, INCOME

Customers are flocking back to Planet Fitness, resulting in acrossthe-board growth in revenue, profits, customers and new stores for the Rochester-based gym chain.

Revenue was up by 46 percent, to $154.3 million, on the third quarter, an increase in net income to $17.4 million (21 cents a diluted share) compared to the third-quarter loss of $3.1 million in 2020.

Year-to-date revenue increased nearly 48 percent to $403.4 million, and the company expects that the full year will be in the $570 million to $580 million range, barring another deadly Covid wave. The company reported a net income of $37 million for the first three quarters. Last year, it lost $23.7 million during the same period.

After a complete two-month shutdown in the spring of 2020, the company’s 15 million members have returned to the gym at 90 percent of pre-Covid levels, the company said.

RUGER DEFIES INDUSTRY SLOWDOWN WITH STRONG THIRD QUARTER

Gun sales are slowing down nationally, but they were still going up in the last quarter for Sturm Ruger & Co., thanks to a huge backlog.

The company reported $178.2 million in sales in the third quarter, a 22 percent increase, resulting in net income of $35 million, or $1.98 a diluted share — more than $10 million over the same quarter last year. The sell-through rate was up 9 percent, even though comparable national background checks for the entire industry showed an 11 percent decrease.

Ruger’s board of directors also declared a dividend of 79 cents per share for the third quarter for stockholders of record as of Nov. 15, payable on Nov. 30.

Year to date, the company reported $562.7 million in revenue, a 40 percent increase over last year, for net income of $117.8 million, or $6.64 a diluted share.

ALLEGRO MICROSYSTEMS SEES RECORD QUARTERLY GROWTH

A year after its initial public offering, Allegro MicroSystems says that the record growth it experienced in the last quarter is slowing down due to supply chain issues, but it expects those issues to be straightened out by the end of its fiscal year.

The Manchester-based manufacturer of magnetic sensors and power semiconductors reported $193.6 million in revenue in the second quarter of fiscal year 2022 ending Sept. 24, a 42 percent increase from the same time last year. The company also reported $33.2 million in net income, more than triple the same quarter last year, or 17 cents per share.

Allegro went public on Nov 2, 2020.

This year, on Nov. 1, the company announced a secondary stock offering of 7 million shares as some of its private equity owners cash in, with an option to sell off another million shares. The original IPO opened at about $18 a share, with shares now at nearly $32.

ALBANY INTERNATIONAL SEES 3Q REVENUE HIKE

Albany International Corp. increased its third-quarter revenues with a little boost from the American Rescue Plan Act, despite a slow liftoff of the once-grounded Boeing 737 Max fleet.

The Rochester-based firm, which makes composites for commercial and military aircraft and paper manufacturing, reported third-quarter revenues of $232 million, an increase of 9.6 percent over last year, and net income of $30.9 million, or 95 cents a share, up from $29.6 million the same quarter last year.

So far, the company reported revenues of $689.3 million, with $90 million in net income. The company announced it was raising its guidance for the year to the $900 million to $920 million range, with earnings per share of $3.15 to $3.30.

Things are looking up when it comes to other aircraft and the return of travel. Last quarter, revenue for the Albany Engineered Composites division was up $5 million, to $78 million, though the $227 million in revenue to date is $18 million behind last year.