Net income was down 66% to $1,183,000 in the third quarter from $3,492,000, hurt by $1.4 million in costs related to the Barnes Bullets acquisition and $6.6 million of non‐cash charges, even as sales expanded 7% to $64,491,000 from $60,203,000. As we reported previously, CLAR won the auction for bankrupt Remington’s high-end Barnes hunting ammunition brand in Sep., agreeing to pay $30.5 million to add it to its fast-growing Sierra business. Gross margin narrowed by 50 basis points to 33.6% blamed on continued Covid-19 impacts on the supply chain. SG&A was up by 14%, mostly ... Log in to view full article.