On 10 Sep 2019, American Outdoor Brands Corporation’s (NASDAQ:AOBC) oscillated between $5.97 and $6.42 before concluding trading period lower/higher +6.43% at $6.62. The stock recorded total trading quantity of 293,496 shares as compared to its average volume of 976,376 shares.
American Outdoor Brands Corporation (AOBC) recently declared financial results for the first quarter fiscal 2020, ended July 31, 2019.
First Quarter Fiscal 2020 Financial Highlights
- Quarterly net sales were $123.7Mcontrast with $138.8M for the first quarter last year, a decrease of 10.9%.
- Gross margin for the quarter was 38.7% contrast with 37.8% for the comparable quarter last year.
- Quarterly GAAP net loss was $2.1M, or $(0.04)per diluted share, contrast with net income of $7.6M, or $0.14 per diluted share, for the comparable quarter last year.
- Quarterly non-GAAP net income was $1.7M, or $0.03per diluted share, contrast with $11.7M, or $0.21 per diluted share, for the comparable quarter last year. GAAP to non-GAAP adjustments to net income exclude a number of acquisition-related costs and other costs. For a detailed reconciliation, see the schedules that follow in this release.
- Quarterly non-GAAP Adjusted EBITDAS was $17.5M, or 14.1% of net sales, contrast with $28.4M, or 20.4% of net sales, for the comparable quarter last year.
James Debney, American Outdoor Brands Corporation President and Chief Executive Officer, commented, “Our results for the first quarter reflected our ability to remain focused on executing our planned plan, while addressing the challenges of ongoing softness in the firearms market. During the quarter, we achieved important milestones at our new Missouri Campus, which houses our Logistics & Consumer Services Division and Outdoor Products & Accessories Division, and serves as the centralized logistics, warehousing, and distribution operation for our entire business. Those milestones included the successful transfer of our entire firearms shipping operations to the new facility, as well as the consolidation and subsequent shuttering of our Jacksonville, Florida business. Our Missouri Campus is an important planned initiative that will ultimately allow us to lower our costs, better serve our consumers, and achieve our objective to be the leading provider of quality products for the shooting, hunting, and rugged outdoor enthusiast.”
AOBC is recorded at 0.42 and the relative strength index of the stock stands 39.05. The stock price is going above to its 52 week low with 16.75% and lagging behind from its 52 week high with -58.50%.