American Outdoor Brands Corporation (NASDAQ:AOBC) Q2 2020 Earnings Conference Call - Final Transcript

Dec 05, 2019 • 05:00 pm ET

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American Outdoor Brands Corporation (NASDAQ:AOBC) Q2 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good day, everyone, and welcome to the American Outdoor Brands Corporation's Second Quarter Fiscal 2020 Financial Results Conference Call. This call is being recorded.

At this time, I would like to turn the call over to Liz Sharp, Vice President of Investor Relations, who will give us some important information about today's call.

Executive
Elizabeth Sharp

Thank you and good afternoon. Our comments today may contain predictions, estimates and other forward-looking statements. Our use of words like anticipate, project, estimate, expect, intend, believe, and other similar expressions is intended to identify those forward-looking statements. Forward-looking statements also include statements regarding revenue; earnings per share; non-GAAP earnings per share; fully diluted share count and tax rate for future periods; our product development, focus, objectives, strategies and vision; our strategic evolution; our market share and market demand for our products; market and inventory conditions related to our products and in our industry in general; and growth opportunities and trends.

Our forward-looking statements represent our current judgment about the future and they are subject to various risks and uncertainties. Risk factors and other considerations that could cause our actual results to be materially different are described in our securities filings, including our Forms 8-K, 10-K and 10-Q. You can find those documents as well as a replay of this call on our website at aob.com later today.

Today's call contains time-sensitive information that is accurate only as of this time, and we assume no obligation to update any forward-looking statements. Our actual results could differ materially from our statements today. I have a few important items to note about our comments on today's call. First, we reference certain non-GAAP financial measures on this call. Our non-GAAP results and guidance exclude acquisition-related costs, including amortization, recall-related expenses, one-time transition costs, fair value inventory step-up, change in contingent consideration and the tax effect related to all those adjustments.

The reconciliations of GAAP financial measures to non-GAAP financial measures, whether or not they are discussed on today's call, can be found in today's Form 8-K filing as well as today's earnings press release, which are posted on our website. Also, when we reference EPS, we are always referencing fully diluted EPS. For detailed information on our results, please refer to our annual report on Form 10-K for the year ended April 30, 2019, and our 10-Q for the quarter ended October 31, 2019.

I'll now turn the call over to James Debney, President and CEO of American Outdoor Brands.

Executive
James Debney

Thank you, Liz. Good afternoon, and thanks, everyone, for joining us. With me on today's call is Jeff Buchanan, our Chief Financial Officer.

We are pleased with our second quarter performance, which includes several achievements that I will outline for you today. Among them was our work to finalize the plan to spin-off our Outdoor Products & Accessories business as a tax-free dividend to our stockholders, a transaction we announced in early November that we expect to close in about 8 to 10 months. Because we plan to become two independent