American Outdoor Brands Corporation (NASDAQ: AOBC) missed sales and earnings estimates for the first quarter of 2020 and lowered its earnings guidance for the full year, sending the stock plummeting over 13% in aftermarket hours on Thursday.
Net sales fell nearly 11% year-over-year to $123.7 million, missing estimates of $127 million.
On a GAAP basis, the company reported a net loss of $2.1 million, or $0.04 per share, compared to a net income of $7.6 million, or $0.14 per share, last year. Adjusted net income was $1.7 million, or $0.03 per share. Analysts had forecast adjusted EPS of $0.07.
Gross margin for the quarter rose to 38.7% from 37.8% last year. Adjusted EBITDAS was $17.5 million, or 14.1% of net sales, compared to $28.4 million, or 20.4% of net sales, last year.
At quarter-end, the company had cash of $30.7 million and total net borrowings of $149.1 million.
For the second quarter of 2020, the company expects sales of $140-150 million and adjusted EPS of $0.03-0.07. For the full year of 2020, sales is expected to be $630-650 million and GAAP EPS is expected to be $0.41-0.49. The company now expects adjusted EPS to be $0.70-0.78 versus the prior outlook of $0.76-0.84.
Neurological and neurodegenerative diseases affect a vast segment of the population worldwide and there is a significant demand for treatments for these conditions. Biogen (BIIB) has a strong portfolio of
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA), a market leader in generic drugs, reported lower revenues for the third quarter of 2021, citing a slowdown in North American sales. Meanwhile, earnings
Goldman Sachs (GS) exceeded analysts’ expectations, as investment banking revenue surged nearly 90%. Goldman market research report covers key aspects about the firm including company profile, financial highlights and key