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Clarus Corporation (CLAR) Q2 2021 Earnings Call Transcript fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
Inside The Call: Clarus Hikes Outlook As Black Diamond Regains Momentum sgbonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sgbonline.com Daily Mail and Mail on Sunday newspapers.
Clarus Corp. completed the acquisition of Australia-based Rhino-Rack Pty Ltd. The company also amended and upsized its existing senior credit line. Clarus’ portfolio of brands also includes Black Diamond, Sierra, Barnes, PIEPS and SKINourishment. Rhino-Rack will continue to operate independently as a wholly-owned subsidiary of Clarus and will constitute a third reporting segment. Clarus acquired Rhino-Rack for $AUD 194 million (approximately $USD 145 million) in cash, subject to a post-closing working capital adjustment, and approximately 2.3 million shares of Clarus common stock for a total aggregate purchase price of $AUD 273 million or approximately $USD 207 million based upon the AUD/USD exchange rate and market value of the stock price at closing. In addition, an earn-out of $AUD 10 million (approximately $USD 8 million) in cash is payable on July 31, 2022, contingent on the achievement of a specified revenue target. With the closing, Richard Cropley, Rhino-Rack ....
[Call starts abruptly] Thank you. Please note that during this call, the company may use words such as appears, anticipates, believes, plans, expects, intends, future and similar expressions, which constitute forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on the company s expectations and beliefs concerning future events impacting the company and therefore, involve a number of risks and uncertainties. The company cautions you that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. ....
Operator Good afternoon everyone and thank you for participating in today s conference call to disclose Clarus Corporation s Financial Results for the Fourth Quarter and Full Year Ended December 31, 2020. Joining us today are Clarus Corporation s President, John Walbrecht, Executive Vice President and CFO; Aaron Kuehne; and the company s external Director of Investor Relations, Cody Slach. Following their remarks, we ll open the call for questions. Before we go further, I would like to turn the call over to Mr. Slach as he reads the company s safe harbor statement within the meaning of the Private Securities Litigation Reform Act of 1995 that provides important cautions regarding forward-looking statements. Cody, please go ahead. ....