AOUT ended its first full year as a standalone public company by taking a $67,849,000 goodwill impairment charge triggered by its declining market capitalization, which contributed to a net loss of $76,686,000 in the final fiscal quarter ended Apr. 30 against a profit of $1,248,000 last year. Revenues tumbled 29% to $45,893,000 from $64,473,000. Excluding the impairment, acquisition costs, amortization of intangible assets and other items, adjusted EBITDAS was $3.2 million, or 7.0% of sales, down from $7.0 million, or 10.8% of sales.

Inventory bulged 64% to $121.7 million, with some of ... Log in to view full article.