Page 1

AMERICAN OUTDOOR BRANDS American Outdoor Brands , Inc. Reports First Quarter Fiscal 2022 Financial Results September 9 , 2021 - Net Sales $ 60.8 Million ( + 20.4 % ) Gross Margin 47.7 % ( +70 Basis Points ) - GAAP EPS $ 0.24 / Non - GAAP EPS $ 0.48 COLUMBIA , Mo. , Sept. 9 , 2021 / PRNewswire / -- American Outdoor Brands , Inc. ( NASDAQ Global Select : AOUT ) , an industry leading provider of products and accessories for rugged outdoor enthusiasts , today announced financial results for the first quarter fiscal 2022 ended July 31 , 2021 . A TM AMERICAN OUTDOOR BRANDS First Quarter Fiscal 2022 Financial Highlights • Net sales of $ 60.8 million for the first quarter of fiscal 2022 grew 20.4 % compared with the first quarter of fiscal 2021 and grew 82.9 % compared with the first quarter of fiscal 2020 , reflecting increased net sales in traditional sales channels and increased international net sales . • Gross margin of 47.7 % increased 70 basis points over the comparable quarter last year . • Net income of $ 3.5 million , or $ 0.24 per diluted share , compared with net income of $ 1.8 million , or $ 0.13 per diluted share , for the comparable quarter last year . • Non - GAAP net income of $ 6.8 million , or $ 0.48 per diluted share , compared with non - GAAP net income of $ 5.0 million , or $ 0.36 per diluted share , for the comparable quarter last year . GAAP to non - GAAP adjustments for net income exclude acquired intangible amortization , stock compensation , transition costs , COVID - 19 expenses , technology implementation , and other costs . For a detailed reconciliation , see the schedules that follow in this release . • Adjusted EBITDAS was $ 9.6 million , or 15.7 % of net sales , compared with $ 8.7 million , or 17.3 % of net sales , for the comparable quarter last year . Concurrent with the company's spin - off in fiscal 2021 , the accounting treatment of its headquarters facility changed from a finance lease to an operating lease . Excluding that change , Adjusted EBITDAS margins in the first quarter of fiscal 2022 were relatively flat year over year . For a detailed reconciliation , see the schedules that follow in this release . Brian Murphy , President and CEO , said , " I am extremely pleased with our strong start to the new fiscal year . We delivered first quarter growth in net sales and profitability , results that reflect our dedication to building authentic , lifestyle brands that help consumers make the most out of the moments that matter . We believe that quarterly net sales growth of more than 20 % over fiscal 2021 , and nearly 83 % over fiscal 2020 , demonstrated the alignment of our brands with strong consumer trends in personal protection and the outdoor lifestyle activities we serve . " " Our Dock & Unlock ™ process continued to fuel innovation and drive future growth . During the first quarter , we attended ICAST , the fishing industry's