November 01, 2018
In reporting a net loss of $32,818,000 against a loss of $114,705,000 last year for the second quarter ended Sep. 30 with sales off 7% to $546,585,000 from $587,283,000, Vista said it remained pleased with its progress on its turnaround despite a challenging market environment.
Net income was $171,421,000 against $203,356,000 for the quarter ended Sep. 30 on a 3% sales gain to $1,848,707,000 from $1,799,270,000.
Comprehensive net income declined 1% to $109,992,000 from $110,619,000 in the third quarter on 5% higher sales of $754,356,000 up from $716,395,000 last year that would have been $30 million higher without the impact of Hurricane Florence.
Net income slipped 24% to $7,063,000 from $9,318,000 in the third quarter, pulled down by a $5.1 million transition tax adjustment, as revenues grew 7% to $370,427,000 from $347,263,000.
The bottom line declined 2% to $9,206,000 from $9,370,000 in the third quarter despite 10% higher sales at $114,945,000 vs. $104,817,000, the company’s first year-over-year improvement in seven quarters.
Net loss was $27,089,000 in the third quarter against income of $14,661,000 last year while revenues declined 13% to $285,936,000 from $329,805,000.
Net income increased 15% to $3,575,000 from $3,118,000 at the archery and game company, on 3% higher revenues of $43,955,000 up from $42,861,000 for the third quarter ended Oct. 6.
Bean is partnering with Jaytex Group to distribute its products to Canadian retailers, and Jaytex will open up to 20 L.L. Bean-bannered stores there over the next ten years.
GOOS will pay C$32.5 million in cash and stock for the Stoney Creek, Ontario-based maker of performance outdoor and industrial footwear.