Business
American Outdoor Brands, Inc. Reports Fourth Quarter and Full Year Fiscal 2021 Financial Results
- Full Year Net Sales $276.7 Million (+65.3%) - Full Year E-commerce Channel Sales +100.2% -- Traditional Channel Sales +48.6% - Full Year Gross Margin 45.8%
About this update from American Outdoor Brands, Inc.
[{"type":"text","content":"- Full Year Net Sales $276.7 Million (+65.3%)\n - Full Year E-commerce Channel Sales +100.2% -- Traditional Channel Sales +48.6%\n - Full Year Gross Margin 45.8% (+340 Basis Points)\n - Full Year GAAP EPS $1.29 / Non-GAAP EPS $2.32\n\n\nCOLUMBIA, Mo., July 15, 2021 /PRNewswire/ -- American Outdoor Brands, Inc. (NASDAQ Global Select: AOUT), an industry leading provider of products and accessories for rugged outdoor enthusiasts, today announced financial results for the fourth quarter and full year fiscal 2021 ended April 30, 2021.\n\n \n \n \n \n \n \n\n \nFourth Quarter Fiscal 2021 Financial Highlights\nQuarterly net sales were $64.5 million, an increase of $21.4 million, or 49.6%, over net sales of $43.1 million for the comparable quarter last year, reflecting increases in both e-commerce and traditional sales channels. Quarterly gross margin was 44.4%, even with gross margin of 44.4% for the comparable quarter last year. Quarterly net income was $1.2 million, or $0.09 per diluted share, compared with a net loss $90.7 million, or ($6.49) per diluted share, for the comparable quarter last year. In the fourth quarter of last year, the company expected to be negatively impacted by several factors related to the COVID-19 pandemic, which constituted a triggering event that required the company to take a $98.9 million non-cash goodwill impairment charge. Quarterly non-GAAP net income was $4.9 million, or $0.34 per diluted share, compared with a non-GAAP net loss of $123,000, or ($0.01) per diluted share, for the comparable quarter last year. GAAP to non-GAAP adjustments for net income exclude a non-cash impairment of goodwill in the prior year, acquired intangible amortization, stock compensation, transition costs, COVID-19 expenses, and other costs. For a detailed reconciliation, see the schedules that follow in this release. Quarterly Adjusted EBITDAS was $7.0 million, or 10.8% of net sales, compared with $3.1 million, or 7.3% of net sales, for the comparable quarter last year. For a detailed reconciliation, see the schedules that follow in this release.Full Year Fiscal 2021 Financial Highlights\nFull year net sales were $276.7 million, an increase of $109.3 million, or 65.3%, over net sales of $167.4 million for the prior year, reflecting increases in both e-commerce and traditional sales channels. Full year gross margin was 45.8%...