August 01, 2017
Finally conceding that its hyper growth focus may not work in the current environment, Under Dog reported a loss of $12,308,000, down from a $52,658,000 loss last year that included a $59.0 million charge for the introduction of the new Class C stock, as revenues improved 9% to $1,088,245,000 from $1,000,783,000 for Q2 ended Jun. 30.
Net income increased 31% to $2,778,000 from $2,124,000 in the second quarter ended Jul. 2 on a 1% sales gain to $243,671,000 from $241,409,000 and comp store sales that were up 0.8%.
Although acquisitions helped grow the top line 1% to $379,756,000 from $374,511,000 for the second quarter ended Jun. 30, the retail bankruptcies in the U.S. market hurt sales and were blamed for a 10% decline in operating profit for the period to $49,630,000 from $55,009,000.
Net income increased 76% to $4,468,000 in the fiscal third quarter ended Jul. 1 against $2,542,000 last year that included a $1.7 million pre-tax manufacturing realignment expense, as sales were 7% lower at $104,281,000 vs. $111,552,000 without the divested Junkfood business.
Earnings at Olin’s Winchester segment were down 39% to $19.0 million from $31.2 million in the second quarter, with revenues dropping 6% to $169.4 million from $181.0 million and commercial sales down 15%.
Comprehensive net income was ¥2,041 million ($18.4 million) against a loss of ¥1,389 million in its fiscal first quarter ended Jun. 30 as revenues gained 8% to ¥30,180 million ($271.7 million) vs. ¥27,935 million.
In an action nearly identical to a suit filed earlier this year and brought by the same attorney, 30 former high school players with symptoms of long-term brain injury are suing BRG Sports in No. CA District Court.