TORONTO, ONTARIO--(Marketwire - April 11, 2012) - Bauer Performance Sports Ltd. (TSX:BAU) ("BAUER" or the "Company") today announced its unaudited financial results for the third quarter and nine months ended February 29, 2012 (all figures are in U.S. dollars).

The 24% increase in overall revenues in the nine months of fiscal 2012 was led by strong performance in ice hockey equipment, including the VAPOR family of skates and composite sticks. BAUER continues to see solid performance in both its lacrosse and apparel product categories, which have delivered year over year revenue increases of 41% and 25%, respectively. Revenues from the North American market grew by 22% in the nine month period ended February 29, 2012 compared to the same period last year, while sales outside North America grew by 30% in the same period. Third quarter revenues grew by 7% due to strong growth in ice hockey equipment (14%) and apparel (9%). Revenues from the North American market were up 1% while sales outside North America were up 28% in the third quarter.

The Company's third fiscal quarter falls between the major shipping months of its two selling seasons, "Back-to-Hockey" and "Holiday". BAUER historically generates its lowest quarterly revenues and negative earnings per share during the third quarter of each fiscal year.

Adjusted Gross Profit as a percentage of revenues was 37.4% for the nine month period ended February 29, 2012 compared to 38.3% in the nine month period ended February 28, 2011. During the third quarter, Adjusted Gross Profit as a percentage of revenues decreased to 30.1% from 34.5%. The decline in Adjusted Gross Profit as a percentage of revenues during the nine month period is primarily due to the growth in composite stick sales which have lower gross profit margins compared to our other ice hockey categories, in part due to higher warranty expenses associated with composite sticks. The decline in the three month period reflects the impact from higher sales of close-out products, higher composite stick sales, and certain higher product costs.

BAUER continues to demonstrate operating leverage in SG&A where spending as a percentage of revenues has declined 260 and 250 basis points in the three and nine month periods ending February 29, 2012, respectively. Combined with the benefit from lower interest rates under the Company's credit facility, Adjusted Net Income grew by 76% in the nine month period of fiscal 2012 to $20.8 million and Adjusted EPS increased 74%, or $0.28 to $0.66, compared to the same period last year. In the third quarter, Adjusted Net Loss improved by 10% to $4.4 million and Adjusted EPS improved by 13% to a loss of $0.14 per share.

BAUER also announced that booking orders for its 2012 Back-to-Hockey season increased by 12% over the 2011 Back-to-Hockey season to $207.3 million. Without the impact of fluctuating foreign exchange rates, Back-to-Hockey booking orders increased 14% over the prior year.

BAUER's revenues are comprised of booking, repeat and other orders. Although booking orders provide the Company some visibility into its future revenues for the season, there may not be a direct relationship between the change in booking orders year over year and the anticipated total revenues change for that season, due to several factors including, among others, the potential impact booking orders have on the amount and timing of future repeat orders for which the Company has little visibility. For a more detailed discussion and definition of BAUER's booking and repeat orders, please see the Outlook section of the Company's third quarter MD&A, which are available on SEDAR at [ www.sedar.com ].

"After growing our revenues 28% in the first half of our fiscal year, we continued to grow nicely in what is traditionally our slowest quarter, with ice hockey revenues growing 14%. In addition, our business generated significant operating cash flow, improving 80% year-to-date over last year. We are looking forward to the upcoming Back-to-Hockey season where customers continue to show confidence in our products and Brands as demonstrated by our 12% increase in booking orders. We believe that this growth is further evidence that our performance sports platform and unique category management structure can produce continuing market share gains," said Kevin Davis, President and Chief Executive Officer, Bauer Performance Sports.

On a trailing twelve-month basis, revenues were $362.4 million, Adjusted Gross Profit reached $141.6 million or 39.1% of revenues, Adjusted EBITDA was $50.4 million, and Adjusted EPS was $0.83.

As of February 29, 2012, BAUER had working capital of $112.3 million including $4.6 million of cash compared to working capital of $78.0 million including $7.6 million of cash as of February 28, 2011. The Company continued to manage its balance sheet as its leverage ratio, defined as net indebtedness divided by EBITDA, remained low at 2.85.

Adjusted Gross Profit, EBITDA, Adjusted EBITDA, Adjusted Net Income and Adjusted EPS are non-IFRS measures. For the relevant definitions and reconciliations to reported results, please see "Non-IFRS Measures" noted below and the Company's MD&A for the third quarter of fiscal 2012.

INTERNATIONAL FINANCIAL REPORTING STANDARDS ("IFRS")

Bauer Performance Sports is reporting under IFRS as a corporate entity. Through May 31, 2011 the Company reported under Canadian generally accepted accounting principles. A full explanation of related accounting changes can be found in the Notes to the Company's unaudited Condensed Consolidated Financial Statements for the first quarter of fiscal 2012 which are available on SEDAR at [ www.sedar.com ] and on the Company's website.

The Company's unaudited Condensed Consolidated Financial Statements and MD&A for the period ended February 29, 2012 have been filed with applicable regulatory authorities and are available on SEDAR at [ www.sedar.com ] and on the Company's website.

CONFERENCE CALL AND WEBCAST

Management will hold a conference call and live audio webcast on Thursday, April 12, 2012 at 10:00 a.m. (ET) to discuss the Company's third quarter results. The call will be hosted by Kevin Davis, President and CEO and Amir Rosenthal, Chief Financial Officer. Following management's presentation, there will be a question and answer session for analysts and investors.

To access the call, please dial 1-888-300-2343 or 1-719-457-2630. The conference call will also be accessible via webcast at [ www.bauerperformancesports.com ]. A replay of the conference call will be available from 1:00 p.m. ET on April 12, 2012, until midnight ET, April 26, 2012. To access the replay, dial 1-877-870-5176 or 1-858-384-5517, followed by passcode 5137341.

To participate in the live audio webcast, please visit the Company's website at [ www.bauerperformancesports.com ]. The webcast will also be archived on the Company's website.

ABOUT BAUER PERFORMANCE SPORTS LTD.

Bauer Performance Sports Ltd.(TSX:BAU) is a leading developer and manufacturer of ice hockey, roller hockey, and lacrosse equipment as well as related apparel. The company has the most recognized and strongest brand in the ice hockey equipment industry, and holds the top market share position in both ice and roller hockey. Its products are marketed under the Bauer Hockey, Mission Roller Hockey and Maverik Lacrosse brand names and are distributed by sales representatives and independent distributors throughout the world. Bauer Performance Sports is focused on building its leadership position and growing market share in all product categories through continued innovation at every level. For more information, visit [ www.bauerperformancesports.com ].

NON-IFRS MEASURES

Adjusted Gross Profit, EBITDA, Adjusted EBITDA, Adjusted Net Income, and Adjusted EPS are non-IFRS measures. Adjusted Gross Profit is defined as gross profit plus the following expenses which are part of cost of goods sold: (i) amortization and depreciation for intangible assets, (ii) non-cash charges to cost of goods sold resulting from fair market value adjustments to inventory as a result of business acquisitions, and (iii) reserves established to dispose of obsolete inventory acquired through acquisitions. Adjusted EBITDA is defined as EBITDA (net income adjusted for income tax expense, depreciation and amortization, gain or loss on disposal of fixed assets, net interest expense, unrealized gains/losses related to derivative instruments, the loss on early extinguishment of debt, deferred financing costs, and realized and unrealized gains/losses related to foreign exchange revaluation) before restructuring and charges associated with acquisitions, sponsor fees and costs related to share offerings, normalization adjustments relating to the purchase of the BAUER business in 2008 as well as normalized share-based payment expenses. Adjusted Net Income is defined as net income adjusted for unrealized gains/losses related to derivative instruments and unrealized gains/losses related to foreign exchange revaluation, one-time or non-cash charges associated with acquisitions, costs related to share offerings, share-based compensation expense, and other non-cash or one-time items. Adjusted EPS is defined as Adjusted Net Income divided by the weighted average fully diluted shares outstanding.

Reconciliations of these non-IFRS measures to the relevant reported results can be found in the Company's MD&A for the third quarter of fiscal 2012.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements within the meaning of applicable securities laws. Forward-looking statements relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. The words "may", "will", "would", "should", "could", "expects", "plans", "intends", "trends", "indications", "anticipates", "believes", "estimates", "predicts", "likely" or "potential" or the negative or other variations of these words or other comparable words or phrases, are intended to identify forward looking statements.

Forward-looking statements, by their nature, are based on assumptions, including those described herein and are subject to important risks and uncertainties. Many factors could cause our actual results to differ materially from those expressed or implied by the forward looking statements, including, without limitation, the following factors: inability to introduce new and innovative products, intense competition in the equipment and apparel industries, inability to introduce technical innovation, inability to protect worldwide intellectual property rights, decrease in ice hockey, roller hockey and/or lacrosse participation rates, adverse publicity, inability to maintain and enhance brands, reliance on third party suppliers and manufacturers, disruption of distribution chain or loss of significant customers or suppliers, cost of raw materials and shipping freight and other cost pressures, a change in the mix or timing of orders placed by customers, inability to forecast demand for products, inventory shrinkage or excess inventory, product liability claims and product recalls, compliance with standards of testing and athletic governing bodies, departure of senior executives or other key personnel, litigation, employment or union related matters, inability to translate order bookings into realized sales, fluctuations in the value of certain foreign currencies in relation to the U.S. dollar, inability to manage foreign exchange derivative instruments, general economic and market conditions, changes in consumer preferences and the difficulty in anticipating or forecasting those changes, natural disasters, as well as the factors identified in the "Risk Factors" section of BAUER's Annual Information Form dated August 25, 2011 available on SEDAR at [ www.sedar.com ].

Furthermore, unless otherwise stated, the forward looking statements contained in this press release are made as of the date of this news release, and we have no intention and undertake no obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as required by law.