AOUT - Why American Outdoor Brands Fell 21% at the Open Today
Shares of American Outdoor Brands (NASDAQ: AOUT) fell 21% in early trading on July 16. The drop was precipitated by the release of the company's fourth-quarter fiscal 2021 earnings, which was pretty impressive. The guidance for fiscal 2022 is where things got a little troubling.
The diversified outdoor and sports equipment maker had revenue of $64.5 million in the fiscal fourth quarter of 2021, up nearly 50% compared to the year-ago period. For the full year, sales of nearly $277 million were higher by 65%. Both periods were supported by strong online results. Adjusted net income for the fourth quarter was $0.34 per share, up from a $0.01-per-share loss, with full-year adjusted net income chiming in at $2.32 per share, an increase from the previous year's $0.23. All in, it was a pretty good year.
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Why American Outdoor Brands Fell 21% at the Open Today