A $374.4 million impairment charge on goodwill and trade names sent VSTO’s bottom line deep into the red in its fiscal fourth quarter ended Mar. 31, for a loss of $294,335,000 against a $112,824,000 profit last year. Revenues slipped 8% to $740,742,000 from $808,595,000 with both Sporting Products and Outdoor Products segments lower. The writedown was necessitated by rising interest rates and the worsening economic environment, but longer-term, VSTO remains bullish on the prospects for both the outdoor recreation and shooting sports markets.

Gross margin was off 370 basis points companywide to ... Log in to view full article.