Clarus Q4 Results Trump Street View, Outlook Strong; Stock Gains 10%

(RTTNews) - Shares of Clarus Corporation (CLAR) gained over 10% in extended trading session on Monday after the company reported its fourth-quarter results, with both earnings and revenues trumping Wall Street estimates. Looking forward, the company also issued a strong outlook for full year 2022.

Net income for the fourth quarter was $14.0 million or $0.36 per share, up from $7.1 million or $0.22 per share last year.

On an adjusted basis, net income surged to $17.4 million or $0.45 per share from $11.2 million or $0.34 per share last year.

Sales in the fourth quarter increased 56% to a record $118.2 million compared to $75.9 million in the same year-ago quarter.

Analysts polled by Thomson Reuters estimated earnings of $0.36 per share on revenues of $105.81 million for the quarter. Analysts' estimates typically exclude one-time items.

Looking forward to full year 2022, Clarus anticipates sales to grow about 25% to $470.0 million. Analysts currently estimate revenues of $450.83 million for the year.

CLAR closed Monday's trading at $20.62, down $1.21 or 5.54%, on the Nasdaq. The stock, however, gained $2.41 or 11.69%, in the after-hours trading.