Vista Outdoor Inc.'s stock closed at just over $40.21 a share in its first day of trading Tuesday, up 8.68 percent from its opening of $37.00.
The company, which derives most of its income from firearms and ammunition, but also owns the Bushnell and Bollé optics brands, was operated as the Sporting Group of Alliant Techsystems Inc. until Monday, when it was spun off to ATK shareholders as part of a larger merger of the aerospace and defense businesses of ATK and Orbital Sciences Corp.
On Feb. 9, 2015, ATK distributed to its stockholders two shares of Vista Outdoor common stock for every share of ATK common stock held as of record on Feb. 2.
“Today marks the creation of a new leading commercial and consumer-products company focused on innovative solutions, strategic customer partnerships, execution excellence and creating long-term shareholder value,” said Mark DeYoung, Vista Outdoor Chairman and Chief Executive Officer. “Our consumers depend on our products to deliver quality and performance in a variety of outdoor environments and activities. Our mission is to bring the world outside, and to support and facilitate the success of outdoor enthusiasts as they strive to achieve their own rugged independence. We are focused on delivering value to our customers, maintaining and increasing our market share, supporting communities where we do business and growing into adjacent markets through capturing both organic and external growth opportunities. I am proud of the skilled and highly qualified executive leadership team we have assembled to lead Vista Outdoor and of our 5,800 passionate employees around the globe who are working to deliver quality products and services that support Vista Outdoor's business strategies.”
Vista Outdoor operates in two segments: Outdoor Products and Shooting Sports. It owns more than 30 well-recognized brands in the ammunition, firearms and outdoor accessories categories. Vista Outdoor is headquartered in Utah and has manufacturing operations and facilities in 10 U.S. States, Puerto Rico, Mexico and Canada along with international sales and sourcing operations in Mexico, Canada, Europe, Australia, New Zealand and Asia.
