March 09, 2020
Fears of the worsening coronavirus epidemic compounded by a 25% drop in oil prices pushed the Dow average down 2,000 points and industry stocks were not spared in the carnage.
Net income more than tripled to $12,387,000 from $3,548,000 in the final quarter, helped by a big tax benefit this year, on revenues that were up 6% to $61,022,000 from $57,307,000.
Retail/rental revenue increased 4% to $133,713,000 from $128,436,000 in MTN’s fiscal second quarter ended Jan. 31, including about $12.6 million of incremental revenues from Peak Resorts, but with lower sales at its San Francisco Bay Area stores.
Compass will pay $200 million for the Baton Rouge, LA-based baseball and softball equipment company, representing about 13.8x 2019 adjusted EBITDA of $14 - $15 million.
The outdoor retailer and wholesaler added the 30-year-old archery brand to its consumer brands division alongside BlackHeart, Elevation, Fin-Finder, and October Mountain.
A Seattle federal court judge ruled against states attorneys general who had sued to block the new guidelines that put the Commerce Department in charge of commercial firearms exports.