American Outdoor Brands Inc (NASDAQ:AOUT) profit falls

American Outdoor Brands Inc (NASDAQ:AOUT) stock fell 8.17% (As on July 15, 11:46:28 AM UTC-4, Source: Google Finance) though the company posted better than expected results for the fourth quarter of FY 22. On a two-year basis, net sales grew 6.5 percent over the fourth quarter of fiscal 2020, reflecting growth in the traditional channel of 18.0 percent. The quarterly gross margin was 43.8 percent, compared with the quarterly gross margin of 44.4 percent for the comparable quarter last year. Quarterly non-GAAP net income was $1.9 million, compared with non-GAAP net income of $4.9 million for the comparable quarter last year. Quarterly Adjusted EBITDAS was $3.2 million, or 7.0 percent of net sales, compared with $7.0 million, or 10.8 percent of net sales, for the comparable quarter last year.

AOUT in the fourth quarter of FY 22 has reported the adjusted earnings per share of 14 cents, beating the analysts’ estimates for the adjusted earnings per share of 10 cents. The company had reported 28.8 percent decline in the adjusted revenue to $45.89 million in the fourth quarter of FY 22, beating the analysts’ estimates for revenue of $45.49 billion.

Moreover, the company continued to expand the presence, growing the international net sales by nearly 40 percent year-over-year, and the company leveraged the Dock & Unlock strategy to deliver a steady flow of exciting new products that generated nearly 26 percent of the fiscal 2022 revenue. The direct-to-consumer offering demonstrated strong momentum, growing 73 percent in fiscal 2022, as the company continued to move closer to the core customers with authentic and in-demand brands. Lastly, the company expanded the outdoor lifestyle category and entered the attractive grilling market with the acquisition of Grilla Grills.

Additionally, the company continued to opportunistically return capital to shareholders, as evidenced by a $15 million share repurchase program we completed in fiscal 2022. The cash balance, combined with the capacity on the line of credit, provided the company with almost $70 million of available capital at the end of fiscal 2022. American Outdoor Brands, spun off from Smith & Western in 2020, manufactures outdoor products and accessories, including hunting, fishing, camping, shooting, personal security, and defense products. Brands include Caldwell, Wheeler, Tipton, Frankford Arsenal, Hooyman, Bog, MEAT! Your Maker, Uncle Henry, Old Timer, Imperial, Crimson Trace, LaserLyte, Lockdown, Bubba, and Schrade.

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