Net loss narrowed in its seasonally smallest quarter to $694,000 from a loss of $777,000 last year on 2% higher sales of $46,994,000 against $45,881,000 including an 8% improvement at Black Diamond offsetting a 16% decline at Sierra. Excluding an income tax benefit this year and other non-cash items, adjusted EBITDA was down 43% year-on-year to $1,610,000. Gross margin declined 50 basis points to 34.0% due to channel and product mix along with some foreign exchange headwinds. SG&A bulged by $1.4 million, 380 b.p. higher as a percent of revenue, attributed to additional marketing spending, trade show expense and the ... Log in to view full article.