CLAR’s bottom line swung into the red in Q3, tallying a net loss of $1,264,000 against income of $2,751,000 as revenues slumped 14% to $100,075,000 from $115,715,000, hit by a combination of elevated inventory in the distribution chain and slower consumer demand. Full-year sales guidance was cut to between $364 and $368 million from an earlier expectation of $385 to $400 million, generating adjusted EBITDA of $33 to $35 million. CLAR vowed to focus on stabilizing sales and margins, while continuing to restructure the organization to save money.

Outdoor segment sales declined ... Log in to view full article.