Business
American Outdoor Brands, Inc. Reports Second Quarter Fiscal 2022 Financial Results
- Net Sales $70.8 Million - Gross Margin 46.7% - GAAP EPS $0.32 / Non-GAAP EPS $0.58 - Company Narrows Full Year Fiscal 2022 Guidance - Company Announces $15
About this update from American Outdoor Brands, Inc.
[{"type":"text","content":"- Net Sales $70.8 Million\n - Gross Margin 46.7%\n - GAAP EPS $0.32 / Non-GAAP EPS $0.58\n - Company Narrows Full Year Fiscal 2022 Guidance\n - Company Announces $15 Million Share Repurchase Program\n\n\nCOLUMBIA, Mo., Dec. 9, 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 second quarter fiscal 2022 ended October 31, 2021.\n\n \n \n \n \n \n \n\n \nSecond Quarter Fiscal 2022 Financial Highlights\nNet sales were $70.8 million for the second quarter of fiscal 2022, compared with net sales of $79.1 million for the second quarter of fiscal 2021, reflecting a decrease in traditional channel net sales, offset by increased e-commerce channel net sales. On a two-year basis, net sales grew 48.2% compared with the second quarter of fiscal 2020, reflecting growth in the traditional sales channel of 9.8%, and growth in the e-commerce channel of 228.9%. Gross margin of 46.7% was a decrease of 20 basis points from the comparable quarter last year. Net income was $4.6 million, or $0.32 per diluted share, compared with net income of $7.3 million, or $0.52 per diluted share, for the comparable quarter last year. Non-GAAP net income was $8.3 million, or $0.58 per diluted share, compared with non-GAAP net income of $11.0 million, or $0.77 per diluted share, for the comparable quarter last year. GAAP to non-GAAP adjustments for net income exclude acquired intangible amortization, stock compensation, transition costs, COVID-19 expenses, technology implementation, and other costs. For a detailed reconciliation, see the schedules that follow in this release. Adjusted EBITDAS was $11.7 million, or 16.5% of net sales, compared with $15.8 million, or 19.9% of net sales, for the comparable quarter last year. Brian Murphy, President and Chief Executive Officer, said, \"During our second fiscal quarter, our e-commerce net sales grew nearly 5% year over year, and over 228% on a two-year basis, including a meaningful increase in our direct-to-consumer business. While our total net sales declined in the quarter, we believe this primarily reflects the timing of orders from our traditional channel customers. In our second quarter last year, certain customers increased their orders to address depleted...