Welcome to our dedicated page for American Outdoor Brands news (Ticker: AOUT), a resource for investors and traders seeking the latest updates and insights on American Outdoor Brands stock.
American Outdoor Brands, Inc. (NASDAQ: AOUT) is a leading provider of outdoor products and accessories for rugged outdoor enthusiasts. The company, known for its innovative and high-quality products, serves markets including hunting, fishing, camping, shooting, outdoor cooking, personal security, and defense. AOUT operates a diverse portfolio with over 18 respected consumer brands such as BOG, BUBBA, Caldwell, Crimson Trace, Frankford Arsenal, Grilla Grills, Hooyman, Imperial, LaserLyte, Lockdown, MEAT!, Old Timer, Schrade, Tipton, Uncle Henry, ust, and Wheeler.
Founded in 1852, originally under the Smith & Wesson brand, American Outdoor Brands has strategically expanded through acquisitions and organic growth. This has enabled the company to cater to the substantial outdoor lifestyle products market. AOUT emphasizes innovation through its Dock & Unlock™ process, driving new product development across its extensive brand portfolio.
Recent financial results for the second quarter of fiscal 2024 indicate net sales of $57.9 million, a 6.4% increase compared to the same period last year. Traditional channel sales grew by 8.7%, while e-commerce sales rose by 3.3%. The company's gross margin was 45.7%. Despite a challenging market, AOUT maintains a strong financial position with zero debt and a cash balance of $8.4 million at the end of the quarter.
Key updates include successful settlements in patent infringement cases, highlighting AOUT’s commitment to protecting its intellectual property. The company also announced leadership changes, with Brent Vulgamott appointed as Chief Operating Officer and James Tayon named Chief Product Officer, reinforcing its strategic focus on operational efficiency and product innovation.
American Outdoor Brands plans to release its third quarter fiscal 2024 financial results on March 7, 2024, continuing its tradition of transparency and stakeholder engagement. The company's strategic outlook anticipates net sales for fiscal 2024 to exceed those of fiscal 2023 by up to 3.5%, driven by positive long-term consumer trends in outdoor activities.
American Outdoor Brands (NASDAQ: AOUT) filed a patent infringement complaint against The Allen Company in Colorado federal court on January 26, 2023. The lawsuit claims Allen infringed on seven patents related to products such as the LEAD SLED® shooting rests and Orange Peel® shooting targets. AOB seeks injunctive relief and monetary damages, asserting that Allen's actions were unauthorized and willful. CEO Brian Murphy emphasized the importance of protecting AOB's intellectual property to maintain product integrity and customer confidence in their brand. AOB is committed to defending its innovations in the outdoor products market.
American Outdoor Brands, Inc. (NASDAQ: AOUT) announced an expansion of its lease for its Columbia, Missouri headquarters, effective January 1, 2024. The agreement allows AOB full occupancy of approximately 632,000 square feet, increasing operational capacity. The incremental annual lease expense is expected to be around $1.3 million, but is projected to be offset by savings from facility consolidations and improved distribution efficiencies. The company is scheduled to release its third-quarter fiscal 2023 financial results on March 9, 2023, followed by a conference call at 5:00 PM ET to discuss the results.
American Outdoor Brands (AOUT) introduces the Schrade Enrage Series, a collaboration between Schrade® knives and Rage® broadheads. Launching at the ATA Show in Indianapolis from January 11-13, 2023, this series features innovative replaceable blade technology for high-performance knives designed for hunting and everyday use. The Enrage Series includes three models: Isolate Enrage, Phantom Enrage, and Stryche Enrage, with prices ranging from $39.99 to $74.99. These knives aim to meet the demands of outdoor enthusiasts.
American Outdoor Brands (AOUT) reported second-quarter fiscal 2023 net sales of $54.4 million, a 23.1% decline from $70.8 million in the previous year. E-commerce sales fell 17.5% to $22.7 million, while traditional sales decreased 26.6% to $31.7 million. The gross margin rose to 47.7% from 46.7%. GAAP net income decreased to $370,000 or $0.03 per diluted share. Despite challenges, direct-to-consumer sales surged 119.1%, contributing to a 14% increase compared to pre-pandemic levels in fiscal 2020. The company anticipates fiscal 2023 net sales could exceed pre-pandemic levels by 25%.
American Outdoor Brands, Inc. (NASDAQ: AOUT) announced its intent to release second quarter fiscal 2023 financial results on December 1, 2022, following market closure. A conference call will be held at 5:00 p.m. ET on the same day, featuring President Brian Murphy and CFO Andy Fulmer. The call will discuss financial and operational results and may include forward-looking statements. Interested listeners can join via telephone or through the company's website under Investor Relations.
On September 23, 2022, American Outdoor Brands (NASDAQ: AOUT) filed a complaint in Delaware federal court against Good Sportsman Marketing (GSM) for trademark counterfeiting and infringement, alleging GSM unlawfully used its LEAD SLED®, TACKDRIVER®, and DEAD SHOT® marks and sold the Alpha Shooting Rest, infringing patent rights. The company seeks injunctive relief and monetary damages, emphasizing the importance of protecting its intellectual property for future success.
American Outdoor Brands (AOUT) has announced a stock repurchase program, approving up to $10 million of its common shares through September 2023. This decision reflects the Board's confidence in the company’s business and commitment to enhancing shareholder value. The program allows for share repurchases on the open market or through negotiated transactions, with timing and amount determined by management. The company anticipates positive cash flow, which positions it well for growth and potential M&A activities while returning capital to stockholders.
American Outdoor Brands (AOUT) reported Q1 FY2023 net sales of $43.7 million, a 28.1% decline from $60.8 million last year. E-commerce sales rose to $20.5 million, a 23.7% increase, while traditional sales fell by 47.6% to $23.1 million. Gross margin decreased to 43.6% from 47.7%. The company faced a GAAP net loss of $5.7 million (or $0.42 per share), contrasting with a net income of $3.5 million last year. Despite these challenges, the CEO highlighted e-commerce growth and operational efficiencies from facility consolidations, projecting revenue growth of up to 25% over pre-pandemic levels.
American Outdoor Brands (NASDAQ: AOUT) will participate in two upcoming conferences. The first is the CL King's Best Ideas Conference on September 12, 2022, a virtual event, followed by the Lake Street 6th Annual Best Ideas Growth Big 6 Conference in New York City on September 14, 2022. At both events, company management will hold one-on-one and group meetings with investors, highlighting the company's commitment to engaging with stakeholders.
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