Shares of Vista Outdoor Inc. climbed 2.6% in premarket trading Thursday, after the shooting accessories and outdoor products company reported a fiscal fourth-quarter profit that beat expectations, as sales rose to the highest level in more than four years, with demand and order rates continued to increase across all of the company’s businesses. For the quarter to March 31, the company swung to net income of $67.0 million, or $1.11 a share, from a loss of $141.2 million, or $2.44 a share, in the year-ago quarter. Excluding nonrecurring items, adjusted earnings per share rose to $1.02 from 11 cents, beating the FactSet consensus of 67 cents. Sales grew 40% to $596.5 million, above the FactSet consensus of $532.7 million, the most quarterly revenue since the fourth quarter of 2016. Shooting sports sales increased 37% to $403 million, amid strong demand for commercial ammunition and hunting and shooting accessories, while outdoor products sales rose rose 47% to $193 million with strength across all brands. The company expects fiscal first-quarter EPS of 80 cents to 90 cents and sales of $600 million to $620 million, compared with EPS expectations of 69 cents and a sales forecast of $534 million. The stock has rocketed 265.8% over the past 12 months through Wednesday, while the S&P 500 has advanced 46.3%.
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