FARMINGTON, Utah (AP) _ Vista Outdoor Inc. (VSTO) on Thursday reported a fiscal second-quarter loss of $114.7 million, after reporting a profit in the same period a year earlier.
The Farmington, Utah-based company said it had a loss of $2.01 per share. Earnings, adjusted for asset impairment costs and non-recurring costs, were 34 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.
The maker of firearms, ammunition and accessories posted revenue of $587.3 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $583 million.
Vista Outdoor expects full-year earnings in the range of 50 cents to 60 cents per share, with revenue in the range of $2.24 billion to $2.26 billion.
Vista Outdoor shares have declined 50 percent since the beginning of the year. The stock has dropped 53 percent in the last 12 months.