— The $8.1 million incremental revenue in the latest quarter was the result of a change required by the Tax and Trade Bureau related to the timing of federal excise tax assessment within the Firearms segment.
— Subsequent to the end of Q2, the company announced a plan to spin-off its outdoor products and accessories business as a tax-free stock dividend to stockholders. The transaction will close in the second half of the calendar 2020.
— Looking ahead into the third quarter, the company expects net sales in the range of $180-190 million, GAAP EPS of $0.11-0.15, and adjusted EPS of $0.20-0.24. The Street estimates EPS of $0.26 on revenue of $172.39 million.
— For fiscal 2020, the company sees net sales in the range of $680-700 million, GAAP EPS of $0.41-0.49, and adjusted EPS of $0.76-0.84. The consensus estimates EPS of $0.74 on revenue of $638.54 million.