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Mar 31, 2020
Clarus Q1 2020 Earnings Report
Clarus reported first quarter 2020 results, highlighting the company's strength to navigate COVID-19.
Key Takeaways
Clarus Corporation reported a decrease in sales and adjusted EBITDA for the first quarter of 2020, primarily due to the COVID-19 related demand freeze, but highlighted its focus on liquidity and brand equity.
Sales were $53.6 million, down from $61.2 million in the same year-ago quarter.
Net income was $0.04 million, or $0.00 per diluted share, compared to $3.8 million, or $0.12 per diluted share in the same year-ago quarter.
Adjusted EBITDA was $3.6 million compared to $7.3 million in the same year-ago quarter.
The company had $12.8 million in cash and access to $27.9 million in additional liquidity through its line of credit at the end of the quarter.
Forward Guidance
Due to heightened uncertainty in the retail market relating to COVID-19, Clarus is withdrawing its guidance issued on March 9, 2020.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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