Black Diamond, Inc. (BDE) saw its loss narrow to $1.39 million, or $0.05 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $20.72 million, or $0.64 a share. On the other hand, adjusted net income for the quarter stood at $0.42 million, or $0.01 a share compared with $0.64 million or $0.02 a share, a year ago.
Revenue during the quarter dropped 6.07 percent to $41.40 million from $44.08 million in the previous year period. Gross margin for the quarter contracted 440 basis points over the previous year period to 29.10 percent. Operating margin for the quarter stood at negative 1.73 percent as compared to a negative 70.50 percent for the previous year period.
Operating loss for the quarter was $0.72 million, compared with an operating loss of $31.07 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $0.28 million compared with $0.80 million in the prior year period. At the same time, adjusted EBITDA margin contracted 112 basis points in the quarter to 0.69 percent from 1.80 percent in the last year period.
"The fourth quarter was highlighted by growing retailer confidence in the core products that define the Black Diamond Equipment brand," said John Walbrecht, Black Diamond Equipment's brand president. "While we still faced foreign exchange headwinds and margin constraints due to our manufacturing repatriation, demand for climbing and mountain products remained strong. We also continued to experience growing momentum in our direct-to-consumer and independent global distributor businesses, as both channels continue to grow in the strong double-digits."
For financial year 2017, Black Diamond, Inc. expects revenue to be in the range of $153 million to $158 million.
Debt moves up
Black Diamond, Inc. has witnessed an increase in total debt over the last one year. It stood at $21.90 million as on Dec. 31, 2016, up 8.77 percent or $1.77 million from $20.13 million on Dec. 31, 2015. Short-term debt stood at $21.90 million as on Dec. 31, 2016. Total debt was 10.40 percent of total assets as on Dec. 31, 2016, compared with 8.81 percent on Dec. 31, 2015. Debt to equity ratio was at 0.14 as on Dec. 31, 2016, up from 0.11 as on Dec. 31, 2015.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
