Black Diamond, Inc. (Nasdaq:BDE) reported March 14 its fourth-quarter 2010 revenue was up 13.6 percent, but still recorded a quarterly net loss due to continued restructuring and integration costs of the new public company.
The Salt Lake City-based outdoor gear company, which includes Black Diamond Equipment and Gregory Mountain Products, reported a quarterly revenue of $34.2 million ended Dec. 31, 2010, compared to $30.1 million in combined, pro forma sales during the same period a year ago, when the two companies were private.
Despite the sales rise, the company reported a net loss of $500,000, or a loss of $0.02 per diluted share, for the fourth quarter 2010, attributing the loss in part to $1.7 million in non-cash items and $800,000 in integration costs from the combinations of the companies in May 2010.
“Benefits associated with combining and integrating the operations of Gregory with those of Black Diamond Equipment were not present during the fourth quarter,” company officials said in a statement with the earnings release. “The cost savings associated with the combination of Black Diamond Equipment and Gregory are expected to be realized in 2011.”
Black Diamond previously had reported its preliminary full-year 2010 results and comments, including that it intends to launch an apparel line in 2013, as reported by SNEWS on Feb. 8, 2011.
Looking ahead, to the first quarter 2011, company officials estimated sales will come in at range of $37 million to $38.5 million. For the full year 2011, they predicted sales to be between $135 million to $140 million.
-- Compiled by David Clucas
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