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American Outdoor Brands Inc. (AOUT) has submitted its 10-Q filing for the quarterly period ended October 31, 2024.
The filing reports net sales of $60.2 million for the quarter, an increase of 4.0% from $57.9 million in the same quarter the previous year. The increase is attributed to higher sales in the outdoor lifestyle category.
Gross margin for the quarter was 48.0%, up from 45.7% in the previous year, due to lower promotional discounts and reduced inbound freight costs.
Net income for the quarter was $3.1 million, or $0.24 per diluted share, compared to $77,000, or $0.01 per share, in the previous year.
Operating expenses for the quarter were $25.8 million, down from $26.5 million in the previous year, primarily due to decreased selling, marketing, and distribution expenses.
For the six months ended October 31, 2024, net sales were $101.9 million, a slight increase from $101.4 million in the previous year. The increase was driven by international sales growth.
The company reported a net income of $746,000 for the six-month period, compared to a net loss of $4.0 million in the previous year.
Cash used in operating activities was $12.3 million for the six months ended October 31, 2024, primarily due to increased accounts receivable and inventory.
The company repurchased 153,497 shares of its common stock for $1.4 million during the six months ended October 31, 2024, under its stock repurchase program.
American Outdoor Brands Inc. continues to focus on its product development and marketing strategies across its four brand lanes: Adventurer, Harvester, Marksman, and Defender.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the American Outdoor Brands Inc. quarterly 10-Q report dated December 5, 2024. To report an error, please email earnings@qz.com.