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Article Date: February 2019
Word Count: 551

Vista Outdoor Takes $517 Million in Impairment Charges


Nine figures of impairment charges contributed to a net loss of $514,642,000 in the fiscal third quarter ended Dec. 30 against a profit of $53,743,000 last year, as revenues cratered 20% to $467,771,000 from $581,204,000 and were down 13% excluding the divested Bolle, Serengeti and Cebe brands. Vista’s tumbling market cap forced it to adjust its book value to the tune of a $433 million charge to outdoor brands’ goodwill and other intangible assets. The other $84 million impairment was for the held-for-sale assets of Savage Arms. Excluding the impairment charges, last year’s windfall from the Tax Act and some ... Log in to view full article.

 


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