Remington Outdoor Company pushed out its conference call on second quarter financial results until Sept. 1 on Wednesday, although it filed its Form 10-Q for the quarter ended June 28 on Aug. 20.
The company, which was expected to hold the call Wednesday, now expects to host the call on Tuesday, Sept.1, 2015 at 1:00 p.m. ET.
The company's 10K shows its sales declined 5.9 percent to $202.1 million compared with the quarter ended June 29, 2014 as higher Firearms sales offset double-digit declines of Ammunition and Consumer sales.
Firearms sales up 8.4 percent
Net sales for the three months ended June 28, 2015 were $88.2 million, an increase of $6.8 million, or 8.4 percent compared to the three months ended June 29, 2014. Sales of modern sporting rifles (MSRs) and centerfire rifles increased $23.2 million and sales of other firearms and firearms products increased $1.0 million. These increases were partially offset by decreased sales of shotguns, handguns, and rimfire rifles of $12.2 million, $4.4 million, and $0.8 million, respectively. The decline in shotgun sales was primarily caused by a soft turkey hunting season and a delayed response to changes in the market.
Ammunition sales down 10.9 percent
Net sales for the three months ended June 28, 2015 were $93.5 million, a decrease of $11.4 million, or 10.9 percent, as compared to the three months ended June 29, 2014. Sales of shotshell ammunition decreased $7.4 million, while sales of centerfire ammunition decreased $6.9 million and sales in our other ammunition product lines decreased $1.8 million. These decreases were partially offset by increased sales of rimfire ammunition of $4.7 million.
Consumer sales off 28.2 percet
Net sales for the three months ended June 28, 2015 were $20.4 million, a decrease of $8.0 million, or 28.2 percent, as compared to the three months ended June 29, 2014. The decrease is primarily due to lower parts sales of $3.8 million, lower clothing sales of $2.3 million as a result of the sale of Mountain Khakis, and lower sales of air guns and accessories of $1.8 million.
Remington Outdoor Company, which is headquartered in Madison, N.C., is one of the world’s largest designers, manufacturers, and marketers of firearms, ammunition, and related products for the hunting, shooting sports, law enforcement, and military markets. The company's brand portfolio includes Remington, Bushmaster, DPMS/Panther Arms, Marlin, H&R, Dakota Arms, Parker, AAC, Barnes Bullets, EOTAC, Storm Lake, Tapco and Dublin Dog.
