CLARUS CORPORATION Reports Earnings Results for Third Quarter of FY2023
November 26, 2023
🌥️Earnings Overview
CLARUS CORPORATION ($NASDAQ:CLAR) reported their earnings results for the third quarter of FY2023 on September 30 2023. Revenue for this quarter was USD 100.1 million, representing a 13.5% decrease compared to the same period last year. Net income also decreased, from USD 2.8 million to -1.3 million.
Stock Price
Tuesday marked another milestone for CLARUS CORPORATION, as the company reported its financial results for the third quarter of FY2023. CLARUS CORPORATION stock opened at $5.8 and closed at $5.8, a drop of 0.5% from the last closing price of $5.8. The company has attributed this growth to its focus on innovation and expanding its customer base. CLARUS CORPORATION has also made significant investments in research and development, which has allowed them to develop innovative products and services. Going forward, CLARUS CORPORATION is optimistic about its outlook.
The company is planning to invest in further research and development, as well as expand its customer base in order to continue its growth trajectory. CLARUS CORPORATION is also looking to reduce its costs and increase its margins in order to remain competitive in the market. With a strong focus on innovation and customer service, CLARUS CORPORATION is confident that it will be able to achieve its financial goals for the upcoming quarter. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Clarus Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 385.37 | -83.36 | -0.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Clarus Corporation. More…
| Operations | Investing | Financing |
| 49.78 | -6.52 | -45.38 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Clarus Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 497.23 | 205.96 | 7.67 |
Key Ratios Snapshot
Some of the financial key ratios for Clarus Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 22.6% | 32.6% | -21.4% |
| FCF Margin | ROE | ROA |
| 11.2% | -17.7% | -10.4% |
Analysis
GoodWhale has conducted an analysis of CLARUS CORPORATION‘s fundamentals, and based on the Star Chart, we have classified it as a ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. This type of company may be interesting to a range of investors, as it is strong in asset, dividend, and growth, and medium in profitability. Additionally, CLARUS CORPORATION has an intermediate health score of 5/10 with regard to its cashflows and debt, suggesting that it may be able to safely ride out any crisis without the risk of bankruptcy. Ultimately, the moderate growth and steady financial health of CLARUS CORPORATION may make it an attractive option for investors looking for stability and a moderate rate of return. More…
Peers
The competition in the global musical instruments market is expected to intensify in the coming years as leading companies such as Yamaha Corporation, Johnson Health Tech Co. Ltd., and Rapala VMC Corporation battle for market share. The competition among these companies is likely to be driven by factors such as product innovation, marketing campaigns, and expansion into new geographic markets.
– Yamaha Corp ($TSE:7951)
Yamaha Corporation is a Japanese multinational corporation and conglomerate with a wide range of products and services, predominantly musical instruments, electronics, motorcycles, power sports equipment, and other motorized products.
The company has a market capitalization of 955.5 billion as of 2022 and a return on equity of 7.25%. Yamaha’s products are marketed under a variety of brand names, including Yamaha, Line 6, Steinberg, and Yamaha Pro Audio. The company also operates a number of subsidiaries, including Yamaha Music Education, Yamaha Motor Company, and Yamaha Golf-Car Company.
– Johnson Health Tech Co Ltd ($TWSE:1736)
Johnson Health Tech Co Ltd has a market cap of 22.03B as of 2022, a Return on Equity of -2.12%. The company is a leading manufacturer and distributor of fitness equipment and related products. Its products include treadmills, ellipticals, exercise bikes, strength training equipment, and home gyms. The company operates in over 100 countries and has a strong presence in the United States, Europe, and Asia.
– Rapala VMC Corp ($OTCPK:RPNMF)
Rapala VMC Corporation is a Finnish manufacturer of fishing lures, hooks, and other fishing tackle. The company has a market capitalization of 165.26 million as of 2022 and a return on equity of 7.98%. Rapala VMC Corporation is a leading provider of fishing products and services worldwide. The company’s products are sold in over 140 countries. Rapala VMC Corporation’s products include fishing lures, hooks, line, and other fishing tackle. The company also manufactures and sells fishing rods, reels, and other fishing equipment.
Summary
Investors in Clarus Corporation should take note of the company’s declining revenues and net profits for the third quarter of FY2023. Total revenue for the quarter was USD 100.1 million, a decrease of 13.5% year-over-year. Net income for the quarter was USD -1.3 million, compared to 2.8 million in the corresponding quarter last year. This result raises questions about Clarus’ financial health and survival, and investors should carefully assess the company’s suitability for their portfolio before making any decisions.
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