American Outdoor Shares Slump On Disappointing Outlook

By Sue Chang Markets MarketWatch Pulse

Shares of American Outdoor Brands Corp. skidded in Thursday's extended session after the gunmaker issued a weak outlook for fiscal 2018. American Outdoor Brands reported its fiscal fourth-quarter earnings fell to $27.7 million, or 50 cents a share, from $35.6 million, or 63 cents a share, a year earlier. On an adjusted basis, the company previously known as Smith & Wesson, would have earned 57 cents a share. Revenue rose to $229.2 million from $221.1 million. Analysts surveyed by FactSet had projected earnings of 37 cents a share on revenue of $211 million. American Outdoor Brands projected first-quarter earnings per share of 7 cents to 12 cents while revenue is expected in a range of $140 million to $150 million. For fiscal 2018, the company forecast EPS of $1.42 to $1.62 and revenue of $750 million to $790 million, undershooting Wall Street's average EPS estimate of $1.61 and $827.8 million in revenue. Shares plunged 8.1% after hours.

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