One-time inventory rationalization and restructuring charges totaling $26.4 million sent RGR’s bottom line $17,226,000 into the red, compared to a profit of $8,264,000 last year, as sales increased 1% to $132,491,000 from $130,761,000. CEO Todd Seyfert announced the plan to write down obsolete and discontinued inventory in June. The final tally was $17.0 million to write off inventory and related other assets, $5.7 million for product rationalization and SKU reduction that included selling 67,000 units of discontinued models, and $3.7 million for organizational realignment.

In his first full quarter as CEO, Seyfert ... Log in to view full article.