Black Diamond, Inc. (BDE) Tops Q1 EPS by 2c; Guides In-Line

Black Diamond, Inc. (NASDAQ: BDE) reported Q1 EPS of ($0.02), $0.02 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $54.5 million versus the consensus estimate of $54.64 million.

Black Diamond, Inc. sees FY2014 revenue of $235-240 million, versus the consensus of $234.2 million.

"Black Diamond's first quarter results are a reflection of our product variety and seasonal diversity, as well as our global distribution platform," said Peter Metcalf, president and CEO of Black Diamond. "In spite of some extreme dry weather conditions in different parts of the world, our first quarter sales increased more than 8% in constant currency and approximately 7% in real terms. Black Diamond also grew in all of our major geographies."

"The majority of our spring 2014 apparel line was shipped in the first quarter," continued Metcalf. "Sell-through is both on track with our internal plan and based upon selected retailer response, the line is trending ahead of our fall 2014 launch. Early retail and trade feedback for POC's road bike collection suggests it is well positioned for the core cyclist, and we expect the majority of the line to ship in the second quarter.

"We expect our strategic pivot to be largely complete by the end of 2014, positioning Black Diamond for faster growth and profitability and helping to further evolve our direct-to-consumer channel strategy. Therefore, we continue to expect double-digit sales growth during 2014."

For earnings history and earnings-related data on Black Diamond, Inc. (BDE) click here.

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