American Outdoor Brands Results Plunge, Sees Outlook Weak for 12-18 Months
Net income declined 65% to $11,395,000 from $32,453,000 for the third quarter ended Jan. 31 on a 33% decline in sales to $157,376,000 from $233,523,000, with this year’s results including a $9.3 million tax gain from the new tax law. Q3 firearms sales declined 40.6% to $117.6 million while outdoor product sales increased 13.4%, including 7.5% organic growth, to $44.7 million. But gross margin overall fell to 29.8% from 42.5% as firearms gross margin fell to 23.4% compared to 48.2% in outdoor products. Gun stocks have been strong as the political conversation has focused on gun control measures but AOBC ... Log in to view full article.