American Outdoor Brands (NASDAQ:AOBC) announced its quarterly earnings results for its most recent period of the current fiscal year, bringing in a surprising loss over the course of the three months, as well as revenue that improved, sending AOBC stock down late on Thursday.
The Springfield, Mass.-based firearms manufacturer announced that for its third quarter of its fiscal 2019, it posted a loss of $5.7 million, which is roughly 10 cents per share. The figure was considerably lower than the company’s profit from the year-ago quarter, when it brought in $11.4 million, or 21 cents per share.
On an adjusted basis when taking into account one-time items, American Outdoor Brands said it posted earnings of $8.9 million, or 16 cents per share, which is nearly double the $4.7 million, or 9 cents per share from its third quarter of its fiscal 2018. Analysts were calling for the brand to amass adjusted earnings of 12 cents per share, according to data compiled in a FactSet survey.
From a revenue standpoint, the business said it raked in sales of $162 million, roughly 3% higher than the $157.4 million it brought in during the same period a year ago. Analysts were calling for American Outdoor Brands to rake in sales of $161 million, according to data compiled by FactSet.
AOBC stock is down about 5% after the bell on Thursday following the news. Shares had been gaining roughly 1.8% during regular trading hours as the business geared up to report for its latest period.
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