Total sales for the Black Diamond group, based in Salt Lake City, were $31.9 million in the second quarter ended June 30, a 13 percent increase from the year-earlier period.
The gross margin of the American group increased to 39.1 percent, compared with 38.9 a year ago, due to a favorable mix in higher margin products and channel distribution that augmented margins. However, its net loss rose to $1.9 million, compared with $0.8 million a year ago, because of $0.5 million in non-cash items and $1.1 million in transaction-related costs. Excluding these items, the adjusted net loss was $0.3 million, down from $1.3 million in the second quarter of 2011.
The adjusted Ebitda totaled $0.6 million, compared with $1.1 million in the year-ago quarter.
On July 2, the company completed the acquisition of Poc, the Swedish developer of protective gear for action sports athletes in Sweden, for a total consideration valued at approximately $44.9 million.
For the full fiscal year, the company expects total sales to range between $173.0 million and $178.0 million, which includes Poc's anticipated sales from July 2 but does not include new category launches or the impact from potential additional strategic acquisitions.
Full-year revenues are now expected to come in toward the lower end of a $160-165 million range, primarily due to the cloudier outlook for Europe, where consumers are reluctant to spend and retailers are not buying items even when they have sold out.
