While earnings will not be announced until prior to its conference call, Black Diamond (BDI)expects to report third quarter consolidated sales of approximately $42 million, an increase of 24% compared to $34 million in the third quarter of 2010.
For the nine months ended September 30, 2011, Black Diamond expects to report consolidated sales of approximately $109 million, an increase of 20% compared to pro forma sales of approximately $91 million for the same period in the prior year, which includes the results of Black Diamond Equipment and Gregory Mountain Products prior to their acquisitions by the Company in May 2010.
Management will provide further results in its third quarter earnings press release and conference call, which will be announced at a later date.
BDI's current price of $12.99 is trading above its 5 day moving average of $12.91 but well below its 50 day moving average of $14.46. Expect support for your prices at around $12.75 and $8.00, its low in 2010 so prices could retrace to this level making it a riskier buy. It's not currently trading as Oversold and MACD currently has it in a bearish trend. If the price does not retrace, a good entry position is around $13.50 but exit profits at $15.00
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