Black Diamond 3Q sales up 24 percent, swings to profit

Black Diamond reported higher sales and swung to a profit for the third quarter 2011, primarily boosted by a jump in international sales.
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Black Diamond (NYSE:BDE) reported higher revenue and swung to a profit in the third quarter 2011, primarily boosted by strong international sales.

The Salt Lake City-based parent company of Black Diamond Equipment and Gregory Mountain Products reported third-quarter revenue up 24 percent to $42 million, compared to $33.9 million a year ago.

International sales led the way for the outdoor equipment brands, jumping 31.5 percent to $26.1 million, while domestic sales were up 12.9 percent to about $15.9 million.

Black Diamond’s quarterly net income came in at $1 million, or $0.05 per diluted share, versus a net loss of $3.3 million, or a loss of $0.15 per diluted share, a year ago.

Company officials said Black Diamond is still on track to launch a new technical apparel line in fall 2013, for which it has hired Tim Bantle as director of apparel and others such as Cheryl Knopp, Ajay Badiga, and Jeff Nash to lead the initiative.

Compiled by David Clucas

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