Clarus Jumps 14% On Record Sales
By Sam Boughedda
Investing.com -- Clarus Corp (NASDAQ:CLAR) jumped 14% after-hours Monday after the company reported its fourth-quarter results beating analysts' earnings and revenue expectations.
The developer, manufacturer, and distributor of outdoor equipment and lifestyle products reported earnings per share of 45 cents compared to 34 cents during the same quarter the previous year. Revenue came in at a record $118.2 million, beating expectations of $106 million.
The company's sales for the full year 2021 increased 68% to a record $375.8 Million.
"Our record-setting fourth-quarter performance is yet another indication that our 'Innovate and Accelerate' strategy is delivering the intended results across our 'Super Fan' brand portfolio," said Clarus President John Walbrecht.
"For the third consecutive quarter, we reported record sales and adjusted EBITDA. We also continue to increase our gross margin profile despite headwinds across the global supply chain, highlighting the strength of our brands, the execution of operational excellence initiatives, and strong supplier partnerships," added Walbrecht.
Clarus sees fiscal year 2022 sales growing approximately 25% to $470 million, with its outdoor segment increasing by the high-single digits to approximately $237.5 million, the precision sport segment rising by the low-single digits to around $112.5 million, and its adventure segment contributing approximately $120 million.
Related Articles
Clarus Jumps 14% On Record Sales
Russia will be excluded from all JPMorgan fixed income indexes
Global financial stocks decline as more firms cut Russia ties
