"As a result," continued Metcalf, "we entered 2013 as a meaningfully larger, stronger, and more diverse enterprise. With our apparel line expected to be in stores this fall, we believe that we are executing on our vision to become a diversified global brand leader in both hard and soft goods across all four seasons.
"2013 is shaping up to become an equally transformative year as we continue to invest in our organic growth initiatives and aggressively integrate our two strategic acquisitions. In 2014, we expect to begin realizing the benefit of these investments with accelerating profitability."
Black Diamond expects 2013 sales to range between $216-$221 million, which would represent an increase of approximately 23% to 26% from the 2012 sales. The Company also expects gross margin in 2013 to range between 40.0% and 41.0%Net Operating Loss (NOL) The Company estimates that it has available NOL carryforwards for U.S. federal income tax purposes of approximately $212.3 million. The Company's common stock is subject to a Rights Agreement dated February 7, 2008, intended to assist in limiting the number of 5% or more owners and thus reduce the risk of a possible "change of ownership" under Section 382 of the Code. Any such "change of ownership" under these rules would limit or eliminate the ability of the Company to use its existing NOLs for federal income tax purposes. There is no guaranty, however, that the Rights Agreement will achieve the objective of preserving the value of the NOLs. Conference Call Black Diamond will hold a conference call today at 5:00 p.m. Eastern time to discuss its fourth quarter and full year 2012 results. The Company's President and CEO Peter Metcalf and CFO Robert Peay will host the conference call, followed by a question and answer period.
|Date: Monday, March 11, 2013|
|Time: 5:00 p.m. Eastern time (3:00 p.m. Mountain time)|
|Dial-In Number: 1-877-941-1427|
|Conference ID#: 4600335|