Skip to main content

Market Overview

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

Share:

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.

 

Related Articles (BDE)

View Comments and Join the Discussion!

Posted-In: lossEarnings News Guidance

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com