Clarus Corp hits 1-year low on weaker Q1 profit

Clarus

10/05/2022 17:02

** Shares of outdoor equipment maker  CLAR.O  fall as much
as 8.5% to one-year low of $19.46
    ** Stock last down 4.8%, on course for second straight
session of losses
    ** CLAR reported lower Q1 profit on Monday after market
close
    ** Q1 net income fell to $5.3 mln, or 13 cents per share,
from $5.7 mln, or 17 cents per share, a year earlier
 urn:newsml:reuters.com:*:nGNX7nhQ30
    ** However, CLAR beat Q1 revenue and adjusted profit
estimates 
    ** CLAR says supply chain and logistics challenges impacted
ability to convert all Outdoor segment demand into revenue
    ** Stock has fallen ~22% this year

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam))