Analysts Have Mixed Ratings after Black Diamond Releases Q4 Results
TipRanks | Mar 19, 2015 06:58AM ET
Black Diamond Inc (NASDAQ:BDE) posted a disappointing quarterly report on March 16, but shares are up after the outdoor sports equipment company announced plans to “explore strategic alternatives” for its brands.
For the fourth quarter, the outdoor sports equipment company posted adjusted earnings per share of $0.09, an increase from $0.07 in the same quarter of last year but below the analyst estimate of $0.11. Black Diamond posted revenue of $59.425 million, up from $54.149 in the same quarter of last year but missing the analyst estimates of $61.6 million. However, sales increased 10% to $59.4 million. Looking forward, Black Diamond estimates 2015 sales of $208 million, or a potential 8% year-over-year increase.
Black Diamond also announced that it will be consulting Rothschild and Baird to “lead the exploration of a full range of strategic alternatives for each of the Company’s brands, Black Diamond, POC and PIEPS.” There is no timetable set for the strategic review process. Black Diamond focuses on climbing, skiing, and hiking equipment while POC primarily manufactures sunglasses and helmets for cycling and snow sports. PIEPS, lastly, manufactures emergency safety equipment.
On March 17, analyst TipRanks is Moderate Buy.
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