Vista Outdoor (VSTO) Tops Q3 EPS by 4c

Vista Outdoor (NYSE: VSTO) reported Q3 EPS of $0.62, $0.04 better than the analyst estimate of $0.58. Revenue for the quarter came in at $654 million versus the consensus estimate of $674.09 million.

"Vista Outdoor is committed to delivering long-term growth through the execution of our strategy and a focus on new product development, operational efficiencies and execution excellence,\" said Vista Outdoor Chairman and Chief Executive Officer Mark DeYoung. "The challenging retail environment we experienced in our first and second quarters worsened in our third quarter following a slow hunting season and the national elections. This resulted in the need for increased promotional activity to support sales and maintain market share. We have also seen increased inventory in our retail and wholesale channels. As a result of these market factors, we announced a non-cash intangible impairment charge. Although we are disappointed in the impairment within the Hunting and Shooting Accessories reporting unit, we continue to drive improvements in our execution and innovation in our product lines. The company launched more than 150 new products during the winter show season. We have created market leading positions in numerous outdoor product categories, and we are committed to delivering long-term value from our portfolio of top brands."

For earnings history and earnings-related data on Vista Outdoor (VSTO) click here.

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