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Black Diamond Reports 1Q Loss

Black Diamond Inc. reported a loss of $4 million in its first quarter.
By
  • Associated Press

SALT LAKE CITY, United States — Black Diamond Inc. on Monday reported a loss of $4 million in its first quarter.

The Salt Lake City-based company said it had a loss of 13 cents per share. Losses, adjusted for non-recurring costs and amortisation costs, came to nine cents per share.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of three cents per share.

The outdoor sports gear maker posted revenue of $38.2 million in the period, which beat Street forecasts. Four analysts surveyed by Zacks expected $36.1 million.

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Black Diamond expects full-year revenue in the range of $145 million to $150 million.

In the final minutes of trading on Monday, the company's shares hit $4.24. A year ago, they were trading at $9.01.

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