BRIEF-Performance Sports Group expects revenue of about $133 mln for Q4

Wed Jun 8, 2016 5:06pm EDT
 
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June 8 (Reuters) - Performance Sports Group Ltd

* For q4, co expects to report revenues of approximately $133 million, down 10% compared to same quarter last year

* On a constant currency basis, q4 revenues are expected to decline by approximately 8% to $136 million

* Determined it appropriate not to fulfill several customer orders which resulted in lower than expected sales

* Expect to reduce inventory by approximately $18 million at end of fiscal 2016 compared to fiscal 2015

* Anticipates higher than expected bad debt reserves which will be finalized during its fiscal 2016 audit.

* Expects to end fiscal 2016 with approximately $424.8 million in debt

* Q4 revenue view $149.9 million -- Thomson Reuters I/B/E/S

* For fiscal 2016, co expects to report revenues of approximately $587 million, down approximately 10% compared to fiscal 2015   Continued...