Clarus Corporation (CLAR) came out with a quarterly loss of $0.07 per share versus the Zacks Consensus Estimate of $0.08. This compares to earnings of $0.20 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -187.50%. A quarter ago, it was expected that this company would post earnings of $0.28 per share when it actually produced earnings of $0.16, delivering a surprise of -42.86%.Over the last four quarters, the company has not ...

We expense research and development costs as incurred in selling, general, and administrative expenses. 8 Table of Contents Customers We market and distribute our products in over 50 countries, primarily through independent specialty stores and specialty chains, premium sporting goods and outdoor recreation stores, distributors and OEMs in the United States, Canada, Europe, Middle East, Asia, Australia, New Zealand, Africa, and South America. Outside of North America and Europe, we sell our products through ...

Exhibit 99.1 SALT LAKE CITY, Mar. 7, 2024 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ: CLAR) ("Clarus" and/or the "Company"), a global company focused on the outdoor enthusiast markets, reported financial results for the fourth quarter and full year ended December 31, 2023. Fourth Quarter 2023 Financial Summary vs. Same Year-Ago Quarter (adjusted to reflect the reclassification of the Precision Sport segment as discontinued operations) "Despite very challenging macroeconomic headwinds throughout 2023 tha ...

SALT LAKE CITY, March 05, 2024 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ:CLAR) ("Clarus" and/or the "Company"), a global company focused on the outdoor and consumer enthusiast markets, announced that its board of directors has confirmed the Company's regular quarterly cash dividend of $0.025 per share. The cash dividend will be paid on March 28, 2024, to all stockholders of record as of March 18, 2024. About Clarus Corporation Headquartered in Salt Lake City, Utah, Clarus Corporation is a global leadin ...

Clarus Corporation (CLAR) is slated to report fourth-quarter 2023 results on Mar 7, after market close.In the last reported quarter, the company’s earnings and sales missed the Zacks Consensus Estimate by 42.9% and 1.7%, respectively.CLAR’s earnings missed expectations in three of the trailing four quarters and met on the remaining occasion, the negative average surprise being 18.4%.The Trend in Estimate RevisionThe Zacks Consensus Estimate for fourth-quarter 2023 earnings per share has decreased to 8 cents ...

Wall Street analysts forecast that Clarus Corporation (CLAR) will report quarterly earnings of $0.08 per share in its upcoming release, pointing to a year-over-year decline of 60%. It is anticipated that revenues will amount to $84.45 million, exhibiting a decline of 18.9% compared to the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Ah ...

SALT LAKE CITY, Feb. 29, 2024 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ:CLAR) ("Clarus" and/or the "Company"), a global company focused on the outdoor and consumer enthusiast markets, today announced that it has completed the sale of its Precision Sport segment, which is comprised of Sierra Bullets, L.L.C. and Barnes Bullets – Mona, LLC, to Bullseye Acquisitions, LLC, an affiliate of JDH Capital Company. The Company sold its Precision Sport segment for approximately $175 million and used a portion of t ...

Q4 Conference Call Set for Thursday, March 7, 2024, at 5:00 pm ET 2024 Investor Day to be Held in NYC on Monday, March 11, 2024, at 12:00 pm ET SALT LAKE CITY, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Clarus Corporation (NASDAQ:CLAR) ("Clarus" and/or the "Company"), a global company focused on the outdoor and consumer enthusiast markets, will hold a conference call on Thursday, March 7, 2024, at 5:00 pm ET to discuss its financial results for the fourth quarter and full year ended December 31, 2023. The financial ...

Financial Data and Key Metrics Changes - Total sales decreased to $100.1 million from $115.7 million year-over-year, representing a decline of 14% [104] - Net loss for the third quarter was $1.3 million, compared to net income of $2.8 million in the prior year [67] - Adjusted EBITDA was $9.9 million, down from $15.1 million year-over-year, with an adjusted EBITDA margin of 9.9% [111] - Free cash flow improved to a negative $1.1 million from a negative $13.6 million in the same quarter last year [87] Business Line Data and Key Metrics Changes - Adventure segment sales increased by 9% to $20.2 million, with a 12% increase on a constant currency basis [80] - Outdoor segment sales decreased by 3% to $61.1 million, showing improvement from Q2 but still facing challenges [66] - Precision Sports sales plummeted by 45% to $18.8 million due to high inventory levels and consumer spending constraints [83] Market Data and Key Metrics Changes - North American market is stabilizing but remains challenging, while Europe is experiencing a drag on overall results due to macroeconomic issues [61] - The direct-to-consumer (D2C) business at Black Diamond grew by 22%, indicating a positive product mix [82] - Inventory levels at Outdoor were approximately $70 million, with efforts to reduce this to the sixties by the end of the quarter [35] Company Strategy and Development Direction - The company is focused on rebuilding its reputation as a customer-centric enterprise and is pressing the reset button on previous management decisions [59] - Strategic initiatives include rightsizing inventory, introducing new products, and enhancing relationships with distributors and retail partners [30] - The acquisition of TRED Outdoors is expected to enhance growth opportunities within the Adventure segment [76] Management's Comments on Operating Environment and Future Outlook - Management noted that 2023 has been a reset year, with objectives for 2024 focused on stabilizing sales and margins while reducing costs [17] - There is cautious optimism regarding a modest uptick in demand for military and defense products due to geopolitical tensions, although sustainability is uncertain [62] - The company expects to begin 2024 on a firmer footing, targeting growth from core products and new revenue streams [78] Other Important Information - The company is undergoing a strategic review of its brands and has made significant strides in operational improvements [51] - A multi-year agreement was signed with Rainier Mountaineering to enhance product development and testing [65] - The ongoing evaluation of a potential sale of the Precision Sports segment is being managed by a Special Committee [90] Q&A Session Summary Question: What changes have been made over the past year to set up for 2024? - Management indicated that both Adventure and Outdoor teams are focused on new products and customer opportunities, with more details to be shared at the Analyst Day in January [3] Question: Can you elaborate on the D2C growth and its impact on profitability? - D2C was up 22% but remains a small part of the overall business; aggressive pricing was necessary to clear inventory, impacting overall profitability [6] Question: What are the objectives for the business in 2024? - The focus will be on leadership, new product introductions, and rightsizing inventory to create a more efficient operation [30] Question: How is the inventory situation across segments? - Inventory remains high, particularly in Precision Sports, but efforts are being made to improve the aging and quality of inventory [54] Question: What is the outlook for the fourth quarter? - The guidance implies a sequential deceleration in sales, particularly due to challenges in Europe and ongoing inventory issues in North America [117]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended: September 30, 2023 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Common Stock, par value $.0001 per share CLAR NASDAQ Global Select Market Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of t ...