November 05, 2020
Net income was $69.3 million against a loss of $49.8 million for the three months ended Sep. as sales increased 232% to $757.9 million against $160.8 million with connected fitness revenue up 274% to $601.4 million and subscription revenue of $156.5 million, up 133%.
Net income slipped 44% to $103,278,000 in the third quarter from $185,091,000 last year on a 3% contraction in revenues to $1,808,266,000 from $1,866,967,000 despite the addition of $178.6 million in PPE sales.
VSTO’s bottom line swung back to the black with net income of $79,645,000 in is fiscal second quarter ended Sep. 27 against a loss of $11,898,000 last year, as revenues surged 29% to $575,179,000 from $445,016,000.
The bottom line was more than halved to $21.7 million in the third quarter ended Sep. 26 from $48.6 million last year, as revenues declined 14% to $493.1 million from $574.3 million despite a 56% jump in DTC e-commerce.
Net income jumped 142% to $51,445,000 in the third quarter over $21,302,000 on revenues that were up 29% to $294,603,000 from $229,125,000, including a 62% increase in DTC to $150.4 million from $92.9 million across categories.
Net income was sliced by 78% to C$12.5 million ($9.4 mm) against C$58.0 million on revenues down 38% to C$194.8 million ($146.2 mm) from C$294.0 million for the fiscal second quarter ended Sep. 29.
Revenues at Canadian Tire’s sporting goods banners slipped 2% to C$533.2 million ($400.3 mm) from C$543.3 million in the third quarter, including a -1.4% comp, blamed on fewer promotional events, a slower Back-to-School season, and declines in hockey and team sports.
The bottom line swung to a profit of $3,307,000 in the third quarter against last year’s loss of $74,810,000 on a 114% top line improvement to $280,507,000 from $131,169,000, lapping 2019’s dismal results from delayed deliveries of HERO8 cameras.
Revenues at the Olin-owned ammunition maker increased 9% in the third quarter to $206.4 million from $188.7 million, helped by booming consumer demand that has been clearing ammunition off shelves as fast as retailers can restock.