Investor Presentaiton
Non-GAAP Financial Measures
In addition to the results prepared in accordance with GAAP, we are providing the information below on a non-GAAP basis, including, adjusted operating expenses, adjusted operating income, adjusted taxes, adjusted net
income and adjusted diluted earnings per share (EPS). Vista Outdoor defines these measures as, operating expenses, operating income, taxes, net income, and EPS, excluding, where applicable, the impact of costs incurred for
transition costs, executive transition costs, planned separation costs, restructuring, contingent consideration and post-acquisition compensation. Vista Outdoor management is presenting these measures so a reader may
compare operating expenses, income from operations, taxes, net income, and EPS excluding these items, as the measures provide investors with an important perspective on the operating results of the Company. Vista Outdoor
management uses this measurement internally to assess business performance, and Vista Outdoor's definition may differ from those used by other companies.
OVISTA OUTDOOR
Three months ended June 25, 2023
(in thousands except per share amounts)
As reported
Transition costs
Executive transition costs
Planned separation costs
Restructuring
Post-acquisition compensation
As adjusted
Gross Profit
$ 226,757
Operating
Expenses
$ 134,571
Operating
income
Other
Income/
(Expense)
Interest
Expense
92,186
(541) $ (16,218)
Tax Rate
23.0 %
(3,002)
(658)
3,002
Net Income
58,100
2,282
EPS (1)
0.99
658
(3,224)
3,224
500
2,450
(834)
(1,405)
834
1,405
634
1,405
22.7% $ 65,371 $
1.12
$ 226,757 $ 125,448 $ 101,309 $ (541) $ (16,218)
(1) As reported net income per share and adjusted net income per share are both calculated based on 58,541 diluted weighted average shares of common stock.
Three months ended June 26, 2022
(in thousands except per share amounts)
Gross Profit
Operating
Expenses
Operating
income
Other
Income/
(Expense)
As reported
$ 293,470
$ 121,045
$ 172,425
$
$
Interest
Expense
(6,310)
Tax Rate Net Income
(14.5) % $ 126,015 $
EPS (1)
2.16
Transaction costs
(2,086)
2,086
1,571
Contingent consideration
112
(112)
(84)
Transition costs
(272)
272
204
Post-acquisition compensation
(4,332)
4,332
3,672
Planned separation costs
(4,300)
4,300
3,225
As adjusted
$ 293,470 $ 110,167 $ 183,303 $
(1) As reported net income per share and adjusted net income per share are both calculated based on 58,381 diluted weighted average shares of common stock..
$
(6,310)
24.0 % $
134,603 $
2.31
31View entire presentation