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May 10 , 2021 CLARUS Clarus Reports Record First Quarter 2021 Results and Raises Full - Year Outlook - Sales in the First Quarter of 2021 Increase 41 % Year - Over - Year to $ 75.3 Million , Marking Third Consecutive Quarter of Growth - - Raises Full - Year Outlook : Expects 2021 Sales and Adjusted EBITDA to Grow Approximately 32 % and 70 % Year - Over - Year to $ 295 Million and $ 38 million , Respectively- SALT LAKE CITY , May 10 , 2021 ( GLOBE NEWSWIRE ) -- Clarus Corporation ( NASDAQ : CLAR ) ( " Clarus " and / or the " Company " ) , a company focused on the outdoor and consumer industries , reported financial results for the first quarter ended March 31 , 2021 . First Quarter 2021 Financial Summary vs. Same Year - Ago Quarter • Sales increased 41 % to $ 75.3 million . • Gross margin improved 130 basis points to 35.9 % ; adjusted gross margin up 180 basis points to 36.4 % . • Net income improved significantly to $ 5.7 million , or $ 0.17 per diluted share , compared to $ 0.04 million , or $ 0.00 per diluted share . • Adjusted net income before non - cash items increased 280 % to $ 10.2 million , or $ 0.31 per diluted share , compared to $ 2.7 million , or $ 0.09 per diluted share . • Adjusted EBITDA increased 191 % to $ 10.6 million . • Free cash flow ( net cash provided by operating activities less capital expenditures ) was $ ( 3.9 ) million compared to $ 2.2 million . Management Commentary " We had another quarter of double - digit revenue growth driven by continued robust demand across all of our brands and product categories , ” said Clarus President John Walbrecht . " Additionally , we substantially improved gross margins and earnings thanks to the strength of our ' super - fan ' brands , our capabilities to fulfill demand and our consistent pricing strategy . Overall , the first quarter was another quarter where we not only did what we set out to do , but we also exceeded our expectations . " Across our Black Diamond and Sierra segments , we continued to outperform the market as we strived to enhance the value proposition for our end consumer . In Black Diamond , we benefited from the recovery in the outdoor market and reduced inventory volatility at retail , which allowed us to accelerate our growth , particularly with some of our key retail accounts . This is despite continued headwinds from COVID - 19 and supply chain challenges . Demand in our bullet businesses continued to surge , and we were able to navigate component shortages relatively well as seen by the 94 % and 92 % pro forma first quarter sales growth in