Business
American Outdoor Brands, Inc. Reports Second Quarter Fiscal 2021 Financial Results
- Net Sales $79.1 Million (+65.7%) - E-commerce Channel Sales +213.4% -- Traditional Channel Sales +34.3% - Gross Margin 46.9% (+690 Basis Points) - GAAP EPS
About this update from American Outdoor Brands, Inc.
[{"type":"text","content":"- Net Sales $79.1 Million (+65.7%)\n - E-commerce Channel Sales +213.4% -- Traditional Channel Sales +34.3%\n - Gross Margin 46.9% (+690 Basis Points)\n - GAAP EPS $0.52 / Non-GAAP EPS $0.77\n - Company Increases FY2021 Guidance\n\n\nCOLUMBIA, Mo., Dec. 15, 2020 /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 second quarter fiscal 2021, ended October 31, 2020.\n\n \n \n \n \n \n \n\n \nSecond Quarter Fiscal 2021 Financial Highlights\nQuarterly net sales were $79.1 million, an increase of $31.4 million, or 65.7%, over net sales of $47.7 million for the comparable quarter last year, driven primarily by increases in both e-commerce and traditional sales channels. Quarterly gross margin was 46.9%, an increase of 690 basis points, over gross margin of 40.0% for the comparable quarter last year. Quarterly net income was $7.3 million, or $0.52 per diluted share, compared with a net loss of $393,000, or ($0.03) per diluted share, for the comparable quarter last year. Quarterly non-GAAP net income was $11.0 million, or $0.77 per diluted share, compared with a non-GAAP net income of $2.8 million, or $0.20 per diluted share, for the comparable quarter last year. GAAP to non-GAAP adjustments for net income exclude costs related to acquired intangible amortization, stock compensation, transition costs, COVID-19 expenses, and other costs. Quarterly Adjusted EBITDAS was $15.8 million, or 19.9% of net sales, compared with $5.6 million, or 11.7% of net sales, for the comparable quarter last year. Brian Murphy, President and CEO, said, \"We believe our second quarter financial performance demonstrates the diversity and innovation of our brand portfolio as it continues to capture the attention of consumers. As a result, we delivered net sales growth of over 65%, and gross margins expanded by 690 basis points to nearly 47% in the quarter. We believe we're witnessing a new foundational level of consumer participation in outdoor activities, an interest towards personal protection, and an interest in adjacent home-based hobbies that surround outdoor adventure, creating meaningful, long-term growth potential for our business well beyond 2020. Continued entry into new, larger addressable markets t...