American Outdoor Brands Corp (NASDAQ:AOBC) took a massive hit on Friday following the company’s Thursday earnings report.
In its fiscal first-quarter 2018 earnings call, the company
, amounting to a loss of four cents per share. American Outdoor Brands posted positive earnings in .
On an adjusted basis, the company earned two cents per share, well below the consensus estimate of 11 cents per share. Revenues also underwhelmed for American Outdoor Brands, coming in at $129 million.
The figure was $19 million below the figure predicted by analysts polled by Zacks Investment Research of $148 million. Revenue was down 37.7% compared to the year-ago sales figure of $207 million.
Gross margin for the quarter was a meek 31.5%, compared with 42.3% in the year-ago period. Total operating expenses were higher at $43.8 million, a 21.5% year-over-year hike from $35 million.
These expenses were seen in the general and administrative expenses, which rose 23.8%, selling and marketing expenses, increased by 27.4%, and research and development expenses, 29.5% higher.
Cash outflow from operating activities in the first period of the current fiscal year was $34.5 million. A year ago, this inflow was $40.6 million.
The company also updated its full-year earnings outlook to be in the range of $1.04 to $1.24 per share, while the revenue forecast calls for sales between $700 million and $740 million.
AOBC stock plummeted 17.9% on Friday as the earnings report was released late in the day Thursday.
