Vista Outdoor Announces FY17 First Quarter Operating Results

By Justin Stakes

Vista Outdoor Reaffirms FY17 Financial Guidance

Farmington, UT -(AmmoLand.com)- Vista Outdoor Inc. (NYSE: VSTO) today reported operating results for the first quarter of its Fiscal Year 2017 (FY17), which ended on July 3, 2016.

“Vista Outdoor continues to execute on its growth strategy,” said Vista Outdoor Chairman and Chief Executive Officer Mark DeYoung. “Early in the quarter, Vista Outdoor completed the acquisition of Action Sports, which has enhanced our market offerings in cycling, snow sports and powersports, and the integration is on track. Including recent acquisitions, both sales and gross profit increased 23 percent over the prior-year period. We, like other consumer products companies, experienced a soft retail environment in the first quarter. Additionally, we were impacted by a shift in consumer spending from accessories to firearms platforms outside our portfolio, and the timing of international orders from the first quarter to later in our fiscal year. We expect a recovery in the second half of the fiscal year due to sell through of new products, increased international sales, the continued improvement in the retail environment, and seasonal upside in the shooting sports market.”

For the first quarter ended July 3, 2016:

• · Sales were $630 million, up 23 percent from …Read the Rest

  Source:: AmmoLand