Confirming Sales Estimates for 2013 and 2014
The Company's first half and full year sales expectations remain unchanged, with first half sales expected to be between $90 million and $95 million and full year 2013 sales expected to be between $216 million and $221 million. These ranges imply year-over-year sales growth of between 22% and 38% for the second quarter and between 23% and 26% for the full year 2013. In 2014, the Company is continuing to manage toward an expected 20% sales increase with accelerating profitability.
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 first quarter 2013 results. The Company's President and CEO Peter Metcalf and Interim CFO and Vice President of Finance Aaron Kuehne will host the conference call, followed by a question and answer period.
|Date: Monday, May 6, 2013|
|Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time)|
|Dial-In number: 1-877-941-1427|
|International number: 1-480-629-9664|
|Conference ID: 4614645|
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