Clarus(US:CLAR)2025-07-09 09:26Company Overview & Strategy - Black Diamond aims to be indistinguishable from the sports it serves, focusing on high-quality, durable technical products[6] - The company targets a large and growing global outdoor sports industry, estimated at $25 billion in annual sales[10] - A diversified business model spans multiple categories, geographies, and distribution channels, with 61% of sales from outside the U S[22, 24] - The company is focused on organic growth, leveraging a scalable global operating platform[69] Financial Performance & Growth - Pro forma sales have grown from $125 million in FY2010 to $203 million in FY2013[5] - TTM sales as of March 2014 reached $206 6 million, with FY2014 sales estimated at $237 5 million[5] - The company has net operating losses (NOLs) of $210 4 million as of December 31, 2013, protecting future cash flow[70, 73] - 2014 total sales guidance is between $235 million and $240 million, representing a year-over-year growth of 16-18%[74] Opportunities & Initiatives - The company sees a $250 million opportunity at specialty retail with its apparel initiative[38, 74] - Black Diamond is broadening distribution and elevating its brand, particularly in the fragmented European market[41, 45] - The acquisition of POC (helmets, body armor, goggles) in 2012 and PIEPS (avalanche beacons & snow safety products) in 2012 expands the product platform[48, 53]