Outdoor financials: Outdoor Channel reports Q1 net loss, plus Gregory-parent to be acquired for $4.1 billion, Deckers, NRF reports weak April retail sales
The Outdoor Channel reported a Q1 net loss, Gregory-parent to be acquired for $4.1 billion, Deckers' director reported sales of company shares, and the National Retail Federation said April retail sales took a hit.
Get access to everything we publish when you sign up for Outside+.
Outdoor Channel reports Q1 net loss
Outdoor Channel Holdings (Nasdaq: OUTD) reported that revenues increased 5.6 percent in the first-quarter of 2007, rising from $11.3 million in the prior-year period to $11.9 million.
The company reported a net loss of $62,000 for the quarter, equal to zero cents per diluted share, based on 25.3 million weighted shares outstanding. This compares with a net loss of $157,000 in the corresponding period a year ago, equal to $0.01 per diluted share, based on 24.5 million weighted shares outstanding.
Subscriber fees totaled $4.7 million, up 8.4 percent over $4.4 million in the same period a year earlier, reflecting an increased number of paying subscribers both from new affiliates and from existing distributors, as well as contractual rate increases. Advertising revenue increased 6.4 percent to $6.0 million in the 2007 first quarter from $5.7 million a year ago. Membership income narrowed to $1.1 million in the current first quarter from $1.2 million a year earlier.
Gregory-parent to be acquired for $4.1 billion
Gregory Packs’ parent Armor Holdings (NYSE: AH), a manufacturer and distributor of tactical wheeled vehicles, security products and vehicle armor systems serving military, law enforcement, homeland security and commercial markets, has entered into a definitive merger agreement to be acquired by BAE Systems, a wholly owned subsidiary of BAE Systems, a global company engaged in the development, delivery and support of advanced defense and aerospace systems in the air, on land and at sea.
BAE Systems has agreed to acquire all of the outstanding stock of Armor Holdings for $4.1 billion, or a price per common share of $88 through a one-step merger. The transaction is subject to approval of Armor Holdings shareholders and is expected to close in the third quarter.
Robert Schiller, president of Armor Holdings, said in a statement, “We are excited to move this business to the next phase of its development. We have no doubt that BAE Systems will place the needs of our customer and those of the men and women in uniform who depend on our products at the center of their ongoing effort.”
Deckers director sells company shares
A director of Deckers Outdoor Corp. (Nasdaq: DECK) sold 30,000 shares of common stock, according to an SEC filing. Deckers brands include Teva, Uggs and Simple.
In a Form 4 filed with the SEC, Gene E. Burleson reported he sold the shares May 8-9 for $80 to $80.77 apiece.
Insiders file Form 4s with the SEC to report transactions in their companies’ shares. Open market purchases and sales must be reported within two business days of the transaction.
April retail sales take a hit, NRF reports
The National Retail Federation (NRF) said April retail sales were impacted by rising gas prices, unseasonably cool weather and an early Easter. Retail industry sales for April, which exclude automobiles, gas stations and restaurants, rose 2.6 percent unadjusted over last year and decreased 0.5 percent seasonally adjusted from March, NRF reported.
April retail sales released by the U.S. Commerce Department show that total retail sales decreased 0.2 percent seasonally adjusted from last month and increased 3.1 percent unadjusted year-over-year. It does not include non-general merchandise categories, such as autos, gasoline stations and restaurants, in its figures.
Industry sales varied across the board. Electronics and appliance stores sales rose 0.7 percent seasonally adjusted over March and 3.6 percent unadjusted over last year. However, sales of building materials and garden equipment dropped 2.3 percent from April and 3.8 percent over last year.
Health and personal care stores sales saw moderate gains of 0.9 percent month-to-month gains and a strong 8.7 percent increase unadjusted year-over-year. Clothing and clothing accessories stores sales, affected mostly by Easter falling in the earlier part of the month this year, fell 2.0 percent seasonally adjusted, but increased 2.3 percent unadjusted from last year.
For more information about any public company on this page or its financial reports, as well as to view stock prices updated every 15 minutes, visit the SNEWS® Stock Market Updates. Click on: www.outsidebusinessjournal.com/cgi-bin/snews/stock_report.html.
