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UPDATE: Black Diamond Misses Q4 Expectations, Plans To Explore Strategic Alternatives


Black Diamond, Inc. (NASDAQ: BDE) reported weaker-than-expected results for the fourth quarter on Monday.

The Salt Lake City, Utah-based company posted a quarterly net loss from continuing operations of $0.9 million or $(0.03) per share, versus net income from continuing operations of $0.5 million, or $0.02 per share, in the year-earlier period. Its adjusted net income from continuing operations rose to $0.09 per share from $0.07 per share.

Its sales rose 10% to $59.4 million from $54.1 million in the year-ago quarter However, analysts were expecting earnings of $0.11 per share on revenue of $61.56 million.

Gross margin widened to 39.0% in the fourth quarter, versus 37.4%. Adjusted EBITDA gained 37% to $3.4 million from $2.5 million.

Selling, general and administrative expenses climbed 8% to $21.9 million from $20.2 million.

At December 31, 2014, Black Diamond had $40.9 million in cash and available-for-sale marketable securities, versus $4.5 million at December 31, 2013.

Peter Metcalf, CEO of Black Diamond said, "Black Diamond Apparel and POC continued to drive our growth as we benefited from a more complete fall 2014 apparel collection, including the fall launch of our women's line, and a significant increase in sales from POC, driven by strong preseason bookings and re-orders of winter seasonal product."

Black Diamond projects FY15 revenue of $208 million, versus analysts' estimates of $217.21 million.

The company also announced the exploration of a full range of strategic alternatives for its Black Diamond, POC and PIEPS brands. The company has engaged advisory firms Rothschild Inc. and Robert W. Baird & Co. to explore strategic alternatives for its brands.

Black Diamond shares rose 0.41% to $7.05 in the after-hours trading session.


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