Head NV reported earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported operating loss decreased by EUR 3.2 million to EUR 3.8 million from EUR 7.0 million in the comparable 2008 period. Interest income decreased by EUR 0.2 million, or 55.4%, to EUR 0.2 million from EUR 0.4 million in the comparable 2008 period. Net loss was EUR 5.3 million compared to net loss of EUR 6.1 million in the comparable 2008 period. Net revenues increased 1.9% to EUR 57.3 million. For the six months, the company reported operating loss increased by EUR 3.8 million to EUR 13.9 million from EUR 10.1 million in the comparable 2008 period. Interest income decreased by EUR 0.3 million, or 49.7% to EUR 0.3 million from EUR 0.7 million in the comparable 2008 period. This decrease was due to lower cash and cash equivalents. Net loss of EUR 17.1 million compared to net loss of EUR 9.7 million in the comparable 2008 period. Net revenues decreased 2.9% to EUR 114.4 million. For the full year 2009, the company is still anticipating sales to be lower than those achieved in 2008. The expected decline in sales, together with a lower cash and available for sale financial assets balance at June, 2009 (EUR 24.0 million) compared to the same period in 2008 (EUR 30.7 million), combined with the cash costs of interest expense and capital expenditures, will result in having to use additional lines of credit during the third and fourth quarters of 2009.

Winter Sports reported revenue results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported revenues decreased by EUR 1.4 million, or 17.3%, to EUR 6.5 million from EUR 7.9 million in the comparable 2008 period. This decrease was due to lower sales volumes partially offset by a favorable product mix. For the six months, the company reported revenues decreased by EUR 2.9 million, or 12.5%, to EUR 20.4 million from EUR 23.3 million in the comparable 2008 period. This decrease was due to lower sales volumes of all of winter sports except protection wear.

Head NV provided earnings guidance for the first six months of 2009. For the period, the company expects its net revenues at constant currency to be up to 10% below those achieved in the first six months of 2008. The company also announced that it would delay the release of its second quarter results for the three and six months ended 30th June 2009, from the 13th August 2009 to the 21st August 2009.