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American Outdoor Brands Corporation Reports Fourth Quarter and Full Year Fiscal 2017 Financial Results
- Fourth Quarter Net Sales of $229.2 Million, up 3.6% Year-Over-Year
- Fourth Quarter GAAP Net Income per Diluted Share of $0.50
- Fourth Quarter Non-GAAP Net Income per Diluted Share of $0.57
- Full Year Record Revenue of $903.2 Million, up 24.9% Year-Over-Year

SPRINGFIELD, Mass., June 29, 2017 /PRNewswire/ -- American Outdoor Brands Corporation (NASDAQ Global Select: AOBC), one of the world's leading providers of firearms and quality products for the shooting, hunting, and rugged outdoor enthusiast, today announced financial results for the fourth quarter and full year fiscal 2017, ended April 30, 2017.

American Outdoor Brands Corporation logo unveiled December 13, 2016.

Fourth Quarter Fiscal 2017 Financial Highlights

  • Quarterly net sales were $229.2 million compared with $221.1 million for the fourth quarter last year, an increase of 3.6%.
  • Gross margin for the quarter was 39.6% compared with 41.6% for the fourth quarter last year. 
  • Quarterly GAAP net income was $27.7 million, or $0.50 per diluted share, compared with $35.6 million, or $0.63 per diluted share, for the comparable quarter last year. Fourth quarter 2017 and 2016 GAAP net income per diluted share included expenses of $3.8 million and $1.7 million, respectively, for amortization, net of tax, related to our acquisitions.
  • Quarterly non-GAAP net income was $31.8 million, or $0.57 per diluted share, compared with $37.4 million, or $0.66 per diluted share, for the comparable quarter last year. GAAP to non-GAAP adjustments to net income exclude a number of acquisition-related costs, including amortization, one-time transaction costs, and inventory valuation adjustments, as well as discontinued operations and a holding company rebranding expense. For a detailed reconciliation, see the schedules that follow in this release.
  • Quarterly non-GAAP Adjusted EBITDAS was $60.5 million, or 26.4% of net sales, compared with $68.7 million, or 31.1% of net sales, for the comparable quarter last year.
  • Completion of $50.0 million stock repurchase program and Board of Directors authorization of an additional $50.0 million in common stock repurchases through March 28, 2019.

Full Year Fiscal 2017 Financial Highlights

  • Full year net sales totaled a record $903.2 million compared with $722.9 million a year ago, an increase of 24.9%.
  • Full year gross margin was 41.5% compared with 40.6% last year. 
  • Full year GAAP net income was a record $127.9 million, or $2.25 per diluted share, compared with $94.0 million, or $1.68 per diluted share, last year.
  • Full year non-GAAP net income was $146.5 million, or $2.58 per diluted share, compared with $102.5 million, or $1.83 per diluted share last year.
  • Full year non-GAAP Adjusted EBITDAS was $266.3 million, or 29.5% of net sales, compared with $202.4 million, or 28.0% of net sales, last year.

James Debney, American Outdoor Brands Corporation President and Chief Executive Officer, commented, "Record level revenue and profitability reflected successful execution across our strategic growth objectives, further validating our vision of being the leading provider of quality products for the shooting, hunting, and rugged outdoor enthusiast. During fiscal 2017, we rebranded our holding company name to better reflect our expansion into new and larger markets.  Accordingly, we are organized into two segments – Firearms and Outdoor Products & Accessories – providing a broad foundation for long-term organic and inorganic growth.

Debney continued, "In our Firearms segment, we introduced several important new products, including the Smith & Wesson M&P M2.0, which is our next generation full size polymer pistol and an important platform for the addition of new M&P pistols that we plan to add in 2018 and beyond.  Sales of our market-leading M&P Shield pistol designed for concealed carry remained strong. In the fourth quarter alone, we sold over 195,000 Shield units, reflecting tremendous consumer adoption rates and extraordinary market share gains. We also continued to leverage our flexible manufacturing model, allowing us to quickly respond to consumer market changes, capture revenue, and deliver healthy gross margins. In our Outdoor Products & Accessories segment, we completed three acquisitions that drove revenue growth and gross margin expansion, and marked important progress in expanding our business into new markets that resonate with our core firearm and rugged outdoor enthusiast consumers."

Jeff Buchanan, Executive Vice President, Chief Financial Officer, and Chief Administrative Officer, commented, "The strength of our financial performance in fiscal 2017 supported a number of successful initiatives throughout the year, including several acquisitions designed to fuel our strategic growth, as well as the completion of $50.0 million in stock repurchases on the open market.  We ended the year with cash and cash equivalents totaling $61.5 million and total bank debt and Senior Notes of $219.0 million. In fiscal 2018, we expect to continue employing the strength of our balance sheet, including the unused portion of our revolving line of credit, which is expandable up to $500 million, to fuel additional growth opportunities, both organic and inorganic."

Financial Outlook

AMERICAN OUTDOOR BRANDS CORPORATION

NET SALES AND EARNINGS PER SHARE GUIDANCE, INCLUDING GAAP TO NON-GAAP RECONCILIATION

(Unaudited)











Range for the Three Months Ending July 31, 2017


Range for the Year Ending April 30, 2018


Net sales (in thousands)

$                    140,000


$              150,000


$              750,000


$              790,000











GAAP income per share - diluted

$                           0.01


$                     0.06


$                     1.16


$                     1.36


Amortization of acquired intangible assets

0.10


0.10


0.40


0.40


Transition costs



0.01


0.01


Tax effect of non-GAAP adjustments

(0.04)


(0.04)


(0.15)


(0.15)


Non-GAAP income per share - diluted

$                           0.07


$                     0.12


$                     1.42


$                     1.62


Conference Call and Webcast

The company will host a conference call and webcast today, June 29, 2017, to discuss its fourth quarter and full year fiscal 2017 financial and operational results. Speakers on the conference call will include James Debney, President and Chief Executive Officer, and Jeffrey D. Buchanan, Executive Vice President, Chief Financial Officer, and Chief Administrative Officer. The conference call may include forward-looking statements. The conference call and webcast will begin at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time). Those interested in listening to the conference call via telephone may call directly at (844) 309-6568 and reference conference code 36222119.  No RSVP is necessary.  The conference call audio webcast can also be accessed live and for replay on the company's website at www.aob.com, under the Investor Relations section. The company will maintain an audio replay of this conference call on its website for a period of time after the call. No other audio replay will be available.

Reconciliation of U.S. GAAP to Non-GAAP Financial Measures

In this press release, certain non-GAAP financial measures, including "non-GAAP net income," "Adjusted EBITDAS," and "free cash flow" are presented. From time-to-time, the company considers and uses these supplemental measures of operating performance in order to provide the reader with an improved understanding of underlying performance trends.  The company believes it is useful for itself and the reader to review, as applicable, both (1) GAAP measures that include (i) amortization of acquired intangible assets, (ii) transition costs, (iii) discontinued operations, (iv) DOJ and SEC costs including insurance recovery costs, (v) acquisition-related costs, (vi) fair value inventory step-up and backlog expense, (vii) bond premium paid, (viii) debt extinguishment costs, (ix) the tax effect of non-GAAP adjustments, (x) net cash provided by operating activities, (xi) net cash used in investing activities, (xii) acquisition of businesses, net of cash acquired, (xiii) receipts from note receivable, (xiv) interest expense (xv) income tax expense, (xvi) depreciation and amortization, (xvii) stock-based compensation expense, and (xviii) corporate rebranding expenses; and (2) the non-GAAP measures that exclude such information. The company presents these non-GAAP measures because it considers them an important supplemental measure of its performance. The company's definition of these adjusted financial measures may differ from similarly named measures used by others. The company believes these measures facilitate operating performance comparisons from period to period by eliminating potential differences caused by the existence and timing of certain expense items that would not otherwise be apparent on a GAAP basis.  These non-GAAP measures have limitations as an analytical tool and should not be considered in isolation or as a substitute for the company's GAAP measures.  The principal limitations of these measures are that they do not reflect the company's actual expenses and may thus have the effect of inflating its financial measures on a GAAP basis.

About American Outdoor Brands Corporation

American Outdoor Brands Corporation (NASDAQ Global Select: AOBC) is a provider of quality products for shooting, hunting, and rugged outdoor enthusiasts in the global consumer and professional markets. The Company reports two segments: Firearms and Outdoor Products & Accessories. Firearms manufactures handgun and long gun products sold under the Smith & Wesson®, M&P®, and Thompson/Center Arms™ brands as well as provides forging, machining, and precision plastic injection molding services. Outdoor Products & Accessories provides shooting, hunting, and outdoor accessories, including reloading, gunsmithing, and gun cleaning supplies, tree saws, vault accessories, knives, laser sighting systems, tactical lighting products, and survival and camping equipment. Brands in Outdoor Products & Accessories include Smith & Wesson®, M&P®, Thompson/Center Arms™, Crimson Trace®, Caldwell® Shooting Supplies, Wheeler® Engineering, Tipton® Gun Cleaning Supplies, Frankford Arsenal® Reloading Tools, Lockdown® Vault Accessories, Hooyman® Premium Tree Saws, BOG POD®, Golden Rod® Moisture Control, Schrade®, Old Timer®, Uncle Henry®, UST®, and Imperial™. For more information on American Outdoor Brands Corporation, call (844) 363-5386 or log on to www.aob.com.

Safe Harbor Statement

Certain statements contained in this press release may be deemed to be forward-looking statements under federal securities laws, and we intend that such forward-looking statements be subject to the safe-harbor created thereby.  Such forward-looking statements include, among others, our strategy to continue growing and balancing our business across the shooting, hunting, and rugged outdoor enthusiast market; our belief that the launch of our next generation, full size M&P M2.0 pistol significantly strengthens our growing family of innovative polymer pistols; our belief that higher year-over-year revenue in the Outdoor Products & Accessories segment was driven largely by our acquisitions of Taylor Brands, LLC, Ultimate Survival Technologies Inc. and Crimson Trace Corporation, all of which occurred in fiscal 2017;  our belief that we successfully rebranded our holding company as American Outdoor Brands Corporation, a name that we believe better represents our strategic direction as we explore markets outside of our core firearms business; our commitment to creating long-term shareholder value by innovating, preserving, and selectively acquiring strong brands that best meet the needs and lifestyles of our valued customers; our belief that our strong balance sheet provides us with opportunities to further diversify our company by investing in our future – both organically and through highly selective, strategic acquisitions; and our expectations for net sales, GAAP income per diluted share, acquisition-related costs, amortization of acquired intangible assets, fair value inventory step-up and backlog expense, tax effect of non-GAAP adjustments, and non-GAAP income per diluted share for the first quarter of fiscal 2018 and for fiscal 2018.  We caution that these statements are qualified by important risks, uncertainties and other factors that could cause actual results to differ materially from those reflected by such forward-looking statements.  Such factors include, among others, the demand for our products; the state of the U.S. economy in general and the firearm industry in particular; general economic conditions and consumer spending patterns; our competitive environment; the supply, availability and costs of raw materials and components; the potential for increased regulation of firearms and firearm-related products; speculation surrounding fears of terrorism and crime; our anticipated growth and growth opportunities; our ability to increase demand for our products in various markets, including consumer, law enforcement, and military channels, domestically and internationally; our penetration rates in new and existing markets; our strategies; our ability to maintain and enhance brand recognition and reputation; risks associated with the establishment of our new 500,000 square foot national distribution center; our ability to introduce new products; the success of new products; our ability to expand our markets; our ability to integrate acquired businesses in a successful manner; the general growth of our outdoor products and accessories business; the potential for cancellation of orders from our backlog; and other risks detailed from time to time in our reports filed with the SEC, including our Annual Report on Form 10-K for the fiscal year ended April 30, 2017.

Contact: Liz Sharp, VP Investor Relations 
American Outdoor Brands Corporation
(413) 747-6284
lsharp@aob.com       

AMERICAN OUTDOOR BRANDS CORPORATION AND SUBSIDIARIES


CONSOLIDATED STATEMENTS OF INCOME









For the Three Months Ended


For the Years Ended 



April 30, 2017 (Unaudited)


April 30, 2016 (Unaudited)


April 30, 2017


April 30, 2016




(In thousands, except per share data)

Net sales


$              229,186


$              221,117


$              903,188


$              722,908


Cost of sales


138,400


129,049


527,916


429,096


Gross profit


90,786


92,068


375,272


293,812


Operating expenses:










Research and development


2,623


2,393


10,238


10,005


Selling and marketing


12,565


8,997


49,338


42,257


General and administrative


30,545


23,781


115,757


82,907


Total operating expenses


45,733


35,171


175,333


135,169


Operating income


45,053


56,897


199,939


158,643


Other (expense)/income, net:










Other expense, net 


(14)


(5)


(52)


(22)


Interest expense, net


(2,455)


(1,954)


(8,581)


(13,528)


Total other (expense)/income, net


(2,469)


(1,959)


(8,633)


(13,550)


Income from operations before income taxes


42,584


54,938


191,306


145,093


Income tax expense


14,890


19,291


63,452


51,135


Net income


27,694


35,647


127,854


93,958


Net income per share:










Basic


$                     0.50


$                     0.64


$                     2.29


$                     1.72


Diluted


$                     0.50


$                     0.63


$                     2.25


$                     1.68


Weighted average number of common shares outstanding:










Basic


55,070


55,554


55,930


54,765


Diluted


55,851


56,396


56,891


55,965


 

AMERICAN OUTDOOR BRANDS CORPORATION AND SUBSIDIARIES


CONSOLIDATED BALANCE SHEETS





As of


April 30, 2017


April 30, 2016



(In thousands, except par value and share data)


 ASSETS


 Current assets:





Cash and cash equivalents

$                 61,549


$              191,279


Accounts receivable, net of allowance for doubtful accounts of $598 on April 30, 2017 and $680 on April 30, 2016

108,444


57,792


Inventories

131,682


77,789


Prepaid expenses and other current assets

6,123


4,307


Income tax receivable 

10,643


2,064


Total current assets

318,441


333,231


 Property, plant, and equipment, net

149,685


135,405


 Intangibles, net

141,317


62,924


 Goodwill

169,017


76,357


 Other assets

9,576


11,586



$              788,036


$              619,503




 LIABILITIES AND STOCKHOLDERS' EQUITY


 Current liabilities:





Accounts payable

$                 53,447


$                45,513


Accrued expenses

51,686


28,447


Accrued payroll and incentives

21,174


18,784


Accrued income taxes

726


5,960


Accrued profit sharing

13,004


11,459


Accrued warranty

4,908


6,129


Current portion of notes payable

6,300


6,300


Total current liabilities

151,245


122,592


 Deferred income taxes 

25,620


12,161


 Notes and loans payable, net of current portion

210,657


166,564


 Other non-current liabilities

7,352


10,370


Total liabilities

394,874


311,687


 Commitments and contingencies 





 Stockholders' equity:





Preferred stock, $.001 par value, 20,000,000 shares authorized, no shares issued or outstanding



Common stock, $.001 par value, 100,000,000 shares authorized, 72,017,288 shares issued and 53,850,426 shares outstanding on April 30, 2017 and 71,558,633 shares issued and 55,996,011 shares outstanding on April 30, 2016

72


72


Additional paid-in capital 

245,865


239,505


Retained earnings

369,164


241,310


Accumulated other comprehensive income/(loss)

436


(748)


Treasury stock, at cost (18,166,862 shares on April 30, 2017 and 15,562,622 April 30, 2016)

(222,375)


(172,323)


Total stockholders' equity

393,162


307,816



$              788,036


$              619,503


 

 

AMERICAN OUTDOOR BRANDS CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS






For the Years Ended


April 30, 2017


April 30, 2016


(In thousands)

Cash flows from operating activities:




Net income

$                 127,854


$                   93,958

Adjustments to reconcile net income to net cash provided by operating activities:




Depreciation and amortization 

50,213


41,237

Loss on sale/disposition of assets

99


256

Provision for losses on notes and accounts receivable

1,546


511

Deferred income taxes

(7,840)


(4,448)

Stock-based compensation expense

8,590


6,472

Changes in operating assets and liabilities (net effect of acquisitions):




Accounts receivable

(40,709)


(2,254)

Inventories

(22,171)


(804)

Prepaid expenses and other current assets

(1,619)


1,999

Income taxes

(13,745)


(328)

Accounts payable

1,233


13,048

Accrued payroll and incentives

988


11,228

Accrued profit sharing

1,545


5,294

Accrued expenses

21,238


3,929

Accrued warranty

(1,415)


(275)

Other assets

1,029


(237)

Other non-current liabilities

(3,260)


(1,029)

Net cash provided by operating activities

123,576


168,557

Cash flows from investing activities:




Acquisition of businesses, net of cash acquired

(211,069)


(1,220)

Refunds/(deposits) on machinery and equipment

2,776


(1,128)

Receipts from note receivable

65


84

Payments to acquire patents and software

(638)


(315)

Proceeds from sale of property and equipment


61

Payments to acquire property and equipment

(34,876)


(29,474)

Net cash used in investing activities

(243,742)


(31,992)

Cash flows from financing activities:




Proceeds from loans and notes payable

100,000


105,000

Cash paid for debt issuance costs

(525)


(1,024)

Payments on capital lease obligation

(558)


(596)

Payments on notes payable

(56,300)


(104,725)

Proceeds from Economic Development Incentive Program

101


Payments to acquire treasury stock

(50,052)


Proceeds from exercise of options to acquire common stock, including employee stock purchase plan

2,442


11,265

Payment of employee withholding tax related to restricted stock units

(4,672)


(2,646)

Excess tax benefit of stock-based compensation


5,218

Net cash (used in)/provided by financing activities

(9,564)


12,492

Net increase/(decrease)  in cash and cash equivalents

(129,730)


149,057

Cash and cash equivalents, beginning of period

191,279


42,222

Cash and cash equivalents, end of period

$                   61,549


$                 191,279

Supplemental disclosure of cash flow information




Cash paid for:




Interest

$                     7,650


$                   13,007

Income taxes

85,216


50,924

 

RECONCILIATION OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES

(Dollars in thousands, except per share data)

(Unaudited)




















For the Three Months Ended 


For the Years Ended



April 30, 2017


April 30, 2016


April 30, 2017


April 30, 2016



$


% of Sales


$


% of Sales


$


% of Sales


$


% of Sales


GAAP gross profit

$    90,786


39.6%


$    92,068


41.6%


$ 375,272


41.5%


$ 293,812


40.6%


Fair value inventory step-up and backlog expense

100


0.0%




4,701


0.5%




Discontinued operations







52


0.0%


Non-GAAP gross profit

$    90,886


39.7%


$    92,068


41.6%


$ 379,973


42.1%


$ 293,864


40.7%



















GAAP operating expenses

$    45,733


20.0%


$    35,171


15.9%


$ 175,333


19.4%


$ 135,169


18.7%


Amortization of acquired intangible assets

(5,704)


-2.5%


(2,686)


-1.2%


(18,434)


-2.0%


(10,067)


-1.4%


Transition costs

(318)


-0.1%




(381)


0.0%


(161)


0.0%


Discontinued operations

(18)


0.0%


(25)


0.0%


(86)


0.0%


(90)


0.0%


DOJ/SEC costs including insurance recovery costs



6


0.0%




1,787


0.2%


Corporate rebranding expenses

(13)


0.0%




(538)


-0.1%




Acquisition-related costs

(59)


0.0%


(27)



(3,844)


-0.4%


(27)


0.0%


Non-GAAP operating expenses

$    39,621


17.3%


$    32,439


14.7%


$ 152,050


16.8%


$ 126,611


17.5%



















GAAP operating income

$    45,053


19.7%


$    56,897


25.7%


$ 199,939


22.1%


$ 158,643


21.9%


Fair value inventory step-up and backlog expense

100


0.0%




4,701


0.5%




Amortization of acquired intangible assets

5,704


2.5%


2,686


1.2%


18,434


2.0%


10,067


1.4%


Transition costs

318


0.1%




381


0.0%


161


0.0%


Discontinued operations

18


0.0%


25


0.0%


86


0.0%


142


0.0%


DOJ/SEC costs including insurance recovery costs



(6)


0.0%




(1,787)


-0.2%


Corporate rebranding expenses

13


0.0%




538


0.1%




Acquisition-related costs

59


0.0%


27



3,844


0.4%


27


0.0%


Non-GAAP operating income

$    51,265


22.4%


$    59,629


27.0%


$ 227,923


25.2%


$ 167,253


23.1%



















GAAP net income

$    27,694


12.1%


$    35,647


16.1%


$ 127,854


14.2%


$    93,958


13.0%


Bond premium paid







2,938


0.4%


Fair value inventory step-up and backlog expense

100


0.0%




4,701


0.5%




Amortization of acquired intangible assets

5,704


2.5%


2,686


1.2%


18,434


2.0%


10,067


1.4%


Debt extinguishment costs







1,723


0.2%


Transition costs

318


0.1%




381


0.0%


161


0.0%


Discontinued operations

18


0.0%


25


0.0%


86


0.0%


142


0.0%


DOJ/SEC costs including insurance recovery costs



(6)


0.0%




(1,787)


-0.2%


Corporate rebranding expenses

13


0.0%




538


0.1%




Acquisition-related costs

59


0.0%


27


0.0%


3,844


0.4%


27


0.0%


Tax effect of non-GAAP adjustments

(2,062)


-0.9%


(945)


-0.4%


(9,291)


-1.0%


(4,685)


-0.6%


Non-GAAP net income

$    31,844


13.9%


$    37,434


16.9%


$ 146,547


16.2%


$ 102,544


14.2%



















GAAP net income per share - diluted

$        0.50




$        0.63




$        2.25




$        1.68




Bond premium paid










0.05




Fair value inventory step-up and backlog expense







0.08







Amortization of acquired intangible assets

0.10




0.05




0.32




0.18




Debt extinguishment costs










0.03




Accessories transition costs

0.01







0.01







Discontinued operations













DOJ/SEC costs including insurance recovery costs










(0.03)




Corporate rebranding expenses







0.01







Acquisition-related costs







0.07







Tax effect of non-GAAP adjustments

(0.04)




(0.02)




(0.16)




(0.08)




Non-GAAP net income per share - diluted

$        0.57




$        0.66




$        2.58




$        1.83




 

AMERICAN OUTDOOR BRANDS CORPORATION AND SUBSIDIARIES

RECONCILIATION OF NET OPERATING CASH FLOW TO FREE CASH FLOW

(In thousands)

(Unaudited)












For the Three Months Ended


For the  Years Ended



April 30, 2017


April 30, 2016


April 30, 2017


April 30, 2016


Net cash provided by operating activities

$                      14,052


$                 94,814


$              123,576


$              168,557


Net cash used in investing activities

(6,040)


(13,150)


(243,742)


(31,992)


Acquisition of businesses, net of cash acquired


1,220


211,069


1,220


Receipts from note receivable

(7)


(28)


(65)


(84)


Free cash flow

$                        8,005


$                 82,856


$                 90,838


$              137,701











 

AMERICAN OUTDOOR BRANDS CORPORATION AND SUBSIDIARIES

RECONCILIATION OF GAAP NET INCOME TO NON-GAAP ADJUSTED EBITDAS

(In thousands)

(Unaudited)









For the Three Months Ended



April 30, 2017



April 30, 2016







GAAP net income


$               27,694



$               35,647

Interest expense


2,502



1,991

Income tax expense


14,890



19,291

Depreciation and amortization


12,680



10,186

Stock-based compensation expense


2,208



1,587

Fair value inventory step-up and backlog expense


100



Acquisition-related costs


59



27

Corporate rebranding expenses


13



Discontinued operations


18



25

Transition costs


318



DOJ/SEC costs




(6)

Non-GAAP Adjusted EBITDAS


$               60,482



$               68,748













AMERICAN OUTDOORS BRANDS CORPORATION AND SUBSIDIARIES

RECONCILIATION OF GAAP NET INCOME TO NON-GAAP ADJUSTED EBITDAS

(In thousands)

(Unaudited)








For Years Ended



April 30, 2017



April 30, 2016







GAAP net income


$             127,854



$               93,958

Interest expense


8,722



13,704

Income tax expense


63,452



51,135

Depreciation and amortization


48,142



38,558

Stock-based compensation expense


8,590



6,472

Fair value inventory step-up and backlog expense


4,701



Acquisition-related costs


3,844



27

Corporate rebranding expenses


538



Discontinued operations


86



142

Transition costs


381



161

DOJ/SEC costs, including insurance recovery costs




(1,787)

Non-GAAP Adjusted EBITDAS


$             266,310



$             202,370













 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/american-outdoor-brands-corporation-reports-fourth-quarter-and-full-year-fiscal-2017-financial-results-300482157.html

SOURCE American Outdoor Brands Corporation

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