Vista Outdoor, Inc. reported earnings on an adjusted basis fell 39.2 percent in its fiscal third quarter ended n December 25, as sales declined 5 percent. Sales dropped 13 percent in its Sporting Products segment while gaining 5 percent in its Outdoor Products segment. The company slightly downwardly adjusted its guidance for the year.
In a separate release, Vista Outdoor said Chris Metz had agreed to resign as CEO and director at the request of the Vista Outdoor Board “based on the Board’s loss of confidence in his leadership for reasons not involving financial reporting or internal controls.” Gary McArthur, a member of Vista’s Board of Directors, was appointed interim chief executive officer.
For more background and details on Vista’s CEO departure and fiscal Q3 results, get inside Vista Outdoor management’s call with analysts at SGB Executive here:
What’s Next For Vista Outdoor Following Board Coup And CEO Exit?
Vista Outdoor Board Pushes CEO Metz To Resign
Photo courtesy Vista Outdoor/Stone Glacier
