Black Diamond (BDE) Tops Q1 EPS by 6c
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Black Diamond (NASDAQ: BDE) reported Q1 EPS of $0.03, $0.06 better than the analyst estimate of ($0.03). Revenue for the quarter came in at $50.3 million versus the consensus estimate of $47.9 million.
"Following a strong finish to 2014, our first quarter was highlighted by another quarter of double-digit sales growth, expanded gross margin and lower operating costs," said Peter Metcalf, CEO of Black Diamond. "In fact, the first quarter marks the fourth consecutive quarter of double-digit currency neutral sales growth and third straight quarter of gross margin expansion. Black Diamond also grew in all of our major geographies.
"These results continue to be driven by the momentum in our Black Diamond Apparel and POC brands. Specifically, our apparel business benefited from a more complete seasonal collection, including the spring 2015 launch of our women's line. POC continues to grow at a healthy double-digit rate, driven by strong at-once orders for both the snow and road bike product lines. We anticipate these fast-growing brands contributing significantly to our results in 2015."
2015 Outlook
Black Diamond's guidance for fiscal 2015 remains on track with sales expected to be approximately $208 million, which would represent an increase of approximately 8% from 2014 sales (an increase of 11% on a constant currency basis). The Company also expects gross margin in fiscal year 2015 to be approximately 40%.
For earnings history and earnings-related data on Black Diamond (BDE) click here.
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