Based on unaudited information, Clarus expects sales in the fourth quarter of 2020 to be approximately
Adjusted EBITDA in the fourth quarter of 2020 is expected to be approximately
For the full year 2020, Clarus expects sales to be approximately
Adjusted EBITDA in 2020 is expected to be approximately
“Today’s preliminary results demonstrate the continued strength of our well-diversified brand portfolio,” said
“In our Black Diamond business, our commitment to preserving brand equity as we execute on our ‘innovate & accelerate’ playbook has allowed us to adeptly navigate a dynamic retail environment. I am proud of our team’s dedication and flexibility throughout the past year, and we will continue working to maximize the profitability of our brands and the value we create for our shareholders.”
Because the Company has not completed its year end closing process, it does not have sufficient information to provide within this press release a reconciliation of the non-GAAP measure adjusted EBITDA to a comparable GAAP financial measure such as net income. As a result, the Company believes it is relevant to provide the following GAAP financial measures for the fourth quarter of 2020: depreciation and amortization of
Our preliminary financial results for the quarter and year ended
The Company expects to release its fourth quarter and full year 2020 results in early March.
About Clarus Corporation
Headquartered in
Use of Non‐GAAP Measures
The Company reports its financial results in accordance with
Forward‐Looking Statements
Please note that in this press release we may use words such as “appears,” “anticipates,” “believes,” “plans,” “expects,” “intends,” “future,” and similar expressions which constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve a number of risks and uncertainties. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from those expressed or implied by forward-looking statements in this release include, but are not limited to, the overall level of consumer demand on our products; general economic conditions and other factors affecting consumer confidence, preferences, and behavior; disruption and volatility in the global currency, capital, and credit markets; the financial strength of the Company's customers; the Company's ability to implement its business strategy; the ability of the Company to execute and integrate acquisitions; changes in governmental regulation, legislation or public opinion relating to the manufacture and sale of bullets and ammunition by our Sierra/Barnes segment, and the possession and use of firearms and ammunition by our customers; the Company’s exposure to product liability or product warranty claims and other loss contingencies; disruptions and other impacts to the Company’s business, as a result of the COVID-19 global pandemic and government actions and restrictive measures implemented in response; stability of the Company’s manufacturing facilities and suppliers, as well as consumer demand for our products, in light of disease epidemics and health-related concerns such as the COVID-19 global pandemic; the impact that global climate change trends may have on the Company and its suppliers and customers; the Company's ability to protect patents, trademarks and other intellectual property rights; any breaches of, or interruptions in, our information systems; the ability of our information technology systems or information security systems to operate effectively, including as a result of security breaches, viruses, hackers, malware, natural disasters, vendor business interruptions or other causes; our ability to properly maintain, protect, repair or upgrade our information technology systems or information security systems, or problems with our transitioning to upgraded or replacement systems; the impact of adverse publicity about the Company and/or its brands, including without limitation, through social media or in connection with brand damaging events and/or public perception; fluctuations in the price, availability and quality of raw materials and contracted products as well as foreign currency fluctuations; our ability to utilize our net operating loss carryforwards; changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks; and the Company’s ability to maintain a quarterly dividend. More information on potential factors that could affect the Company's financial results is included from time to time in the Company's public reports filed with the
Company Contact:
President
Tel 1‐801‐993‐1344
john.walbrecht@claruscorp.com
or
Chief Administrative Officer and
Chief Financial Officer
Tel 1‐801‐993‐1364
aaron.kuehne@claruscorp.com
Investor Relations Contact:
Gateway Investor Relations
Tel 1‐949‐574‐3860
CLAR@gatewayir.com
Source:
2021 GlobeNewswire, Inc., source