America Outdoor Brands Profit Beats View, Strong Outlook; Shares Up 19%

(RTTNews) - America Outdoor Brands Corp. (AOBC) on Thursday posted a profit for the first quarter, turning around from a loss last year, driven largely by strong revenue growth. The company first-quarter results trumped estimates. Moving ahead, the Smith & Wesson maker issued a strong outlook for the second quarter and full year 2018, sending its shares surging 19 percent in the extended session.

The Springfield, Massachusetts based gun-maker reported first-quarter net income of $7.7 million or $0.14 per share, compared to last year's loss of $2.2 million or $0.04 per share.

On an adjusted basis, earnings were $0.21 per share, up from $0.02 per share. Analysts polled by Thomson Reuters estimate earnings of $0.12 per share for the quarter.

Revenues for the quarter rose 7.6 percent to $138.8 million from $129.0 million last year. Analysts had a consensus revenue estimate revenue of $134.53 million.

Looking forward to the second quarter, the company expects adjusted earnings of $0.11 to $0.15 per share and revenues of $150.0 million to $160.0 million. Analysts currently estimate earnings of $0.08 per share on sales of $143.26 million.

For the full year, the company expects earnings of $0.62 to $0.66 per share and revenues of $620 million to $630 million. Analysts currently estimate earnings of $0.50 per share and revenues of $597.03 million.

AOBC closed Thursday's trading at $9.77, down $0.35 or 3.46%, on the Nasdaq. The stock, however, gained $1.83 or 18.73%, in the after-hours trade.