KUALA LUMPUR, March 18 (Bernama) -- Black Diamond, Inc., a global leader in innovative active outdoor performance equipment and apparel, has revealed its fourth quarter and full year financial results ending Dec 31, 2014.
During the fourth quarter of 2014, sales had increased by 10 percent to $59.4 million (RM219 million) compared with $54.1 million (RM200 million) in the same year-ago quarter, said Black Diamond in a statement issued in Salt Lake City, Utah, the United States.
Its gross margin increased 160 basis points to 39.0 percent compared with 37.4 percent in the year-ago quarter. The increase was primarily due to both a favorable mix of higher margin products and channel mix. Partially offset by a 175 basis point impact from foreign exchange.
Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) increased by 37 percent to $3.4 million (RM12 million), net income from continuing operations before non-cash items increased 36 percent to $3.1 million (RM11 million) or $0.09 (RM0.33) per diluted share.
For Full year 2014 sales, it increased 15 percent to $193.1 million (RM714 million) compared with $168.1 million (RM621 million) in 2013.Gross margin increased 250 basis points to 38.8 percent compared with 36.3 percent in 2013.
Adjusted EBITDA increased to $2.9 million (RM10 million) compared with a loss of $1.6 million (RM5 million) in 2013, net income from continuing operations exclude the non-cash items was $0.8 million (RM2.9 million) or $0.03 (RM0.11) per diluted share.
"We have executed against nearly all of its objectives, including the sale of Gregory, the focus on our core and fastest growing brands, and the development of a series of initiatives to improve margins and profitability.
"Our strong fourth quarter results reflect this execution, with 13 percent constant currency sales growth, a 160 basis point improvement in gross margin and a 37 percent increase in adjusted EBITDA," explained Peter Metcalf, CEO of Black Diamond in the same statement.
-- BERNAMA
http://www.bernama.com/bernama/v8/bu/newsbusiness.php?id=1117947
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