Welcome to our dedicated page for Clarus Corporation news (Ticker: CLAR), a resource for investors and traders seeking the latest updates and insights on Clarus Corporation stock.
Clarus Corporation (NASDAQ: CLAR) is a global leader in the design, development, manufacturing, and distribution of high-quality outdoor equipment and lifestyle products. Based in Salt Lake City, Utah, Clarus operates two main segments: Black Diamond and Sierra. These segments cater to various outdoor enthusiasts, including climbers, skiers, mountaineers, trail runners, and adventurers.
The Black Diamond segment specializes in activity-based apparel such as shells, insulation, midlayers, pants, and logowear. It also provides rock-climbing footwear and equipment, technical backpacks, trekking poles, headlamps, gloves, and a wide range of ski equipment. Noteworthy products include avalanche airbag systems, avalanche transceivers, and ice-climbing gear. This segment targets those passionate about climbing, mountaineering, trail running, and skiing.
On the other side, the Sierra segment encompasses brands like Rhino-Rack, MAXTRAX, and TRED Outdoors. This segment focuses on highly-engineered automotive roof racks, mounting systems, luggage boxes, and recovery boards. Rhino-Rack and MAXTRAX products are especially popular in Australia, New Zealand, and the United States.
In recent achievements, Clarus has shown resilience despite challenging macroeconomic conditions. The company reported financial results for the third quarter of 2023, showcasing strategic realignment efforts. Clarus has acquired TRED Outdoors, an innovative, fast-growing brand in the outdoor adventure market. This acquisition aims to expand the company’s product portfolio and enhance its recovery board solutions.
In terms of financial health, Clarus ended 2023 with a strong balance sheet, zero debt, and over $40 million in cash. The company has a streamlined focus on its two main segments poised for growth. With a positive outlook for 2024, Clarus expects total annual net sales to range between $270 million to $280 million and adjusted EBITDA of $16 million to $18 million.
Clarus continues to align its inventory levels with market demands and simplify its organizational structure. The company prioritizes innovation and sustainability, aiming to enhance profitability and unlock new opportunities in the outdoor and adventure sports markets.
For more information on Clarus Corporation, visit their official website at www.claruscorp.com.
Clarus Corporation's subsidiary, Sierra Bullets, is set to acquire assets of Barnes Bullets for $30.5 million in a strategic move aimed at enhancing its specialty ammunition platform. This acquisition is expected to be immediately accretive to earnings and aligns with the company's goal of reaching $100 million in sales with 25-30% adjusted EBITDA margins. Barnes Bullets, known for its environmentally friendly, lead-free bullets, reported $21.8 million in sales over the trailing twelve months. The transaction is pending court approval and completion is anticipated in October 2020.
Clarus Corporation (NASDAQ: CLAR) has entered an agreement to sell 900,000 registered shares at $12.75 each, yielding approximately $11.5 million. This offering involves three key investors—Brown Advisory, Greenhouse Funds, and TT Investimentos—who are increasing their stakes due to confidence in management's execution and the company's growth strategy. Proceeds will enhance working capital and liquidity, supporting Clarus's mission to explore new market opportunities while aiming for a nearly debt-free status by year-end.
Clarus Corporation (NASDAQ:CLAR), a leader in outdoor equipment, will participate in two virtual financial conferences in September 2020. The 9th Annual Gateway Conference is scheduled for September 9 at 9:00 AM Pacific Time, while the Lake Street 4th Annual Best Ideas Growth Conference will take place on September 17. Clarus specializes in outdoor products and boasts prestigious brands like Black Diamond and Sierra. The company emphasizes its commitment to innovation and quality in the outdoor market.
Clarus Corporation (CLAR) reported a significant decline in second-quarter sales for 2020, totaling $30 million, down from $47 million year-over-year. The company faced a net loss of $2.7 million, worsening from a loss of $0.7 million in the same quarter last year. Adjusted EBITDA was negative at $(1.3) million. Despite the pandemic challenges, free cash flow increased over two-fold to $10.2 million. Cash and cash equivalents rose to $21.5 million from $1.7 million at the end of 2019. The firm anticipates improved conditions and maintains that it is on track to meet its goals for the year.
Clarus Corporation (NASDAQ: CLAR) announced the appointment of Keith Enlow as president of its subsidiary, Sierra Bullets, effective August 17, 2020. Enlow, with over 25 years of experience in the commercial, military, and law enforcement markets, aims to leverage his expertise to drive innovation and enhance brand equity at Sierra. Previously, he held leadership roles at Steiner eOptics and Remington Ammunition. Enlow’s educational background includes an MBA and a degree in Mechanical and Aerospace Engineering.
Clarus Corporation (NASDAQ: CLAR) has announced a quarterly stock dividend of $0.025 per share, replacing cash dividends with a stock dividend effective May 1, 2020. Stockholders of record on August 10, 2020, will receive 0.00210 shares for each share held, with distribution on August 21, 2020. This dividend represents approximately 62,632 shares valued at around $747,205 based on the closing market price on July 30, 2020. The company is well-known for its quality outdoor products under brands like Black Diamond and Sierra.
On July 27, 2020, Clarus Corporation (NASDAQ: CLAR) announced a conference call scheduled for August 10, 2020, to discuss its financial results for Q2 2020. The call will occur at 5:00 p.m. ET, following a press release detailing the financial outcomes. This call will be accessible via toll-free and international dial-in numbers, as well as through a live broadcast on the company’s website. A replay will be available from August 10 until August 24, 2020.
Clarus focuses on outdoor equipment and lifestyle products under various iconic brands.
Clarus Corporation (NASDAQ: CLAR) will participate in two virtual financial conferences in June 2020. The company is scheduled for a fireside chat at the Stifel 2020 Virtual Cross Sector Insight Conference on June 9 at 2:00 p.m. ET and a presentation at the Jefferies 2020 Virtual Consumer Conference on June 23 at 1:30 p.m. ET. Clarus, known for its outdoor equipment and lifestyle products, continues to focus on innovation and quality, with a diverse portfolio that includes well-known brands like Black Diamond and Sierra.
Clarus Corporation (NASDAQ: CLAR) reported a decline in Q1 2020 financial results, with sales dropping to $53.6 million from $61.2 million year-over-year. The gross margin fell to 34.6%, and net income decreased to $0.04 million compared to $3.8 million in the same quarter last year. Adjusted net income was $2.7 million, down from $6.9 million. The company emphasized liquidity, with $12.8 million in cash and $27.9 million available through credit facilities. Despite challenges from COVID-19, management remains optimistic about future opportunities in the outdoor market.
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