Gander Mountain Q3 profit rises four fold

By @ibtimes on

Outdoor-products retailer Gander Mountain Co's third-quarter profit rose four fold, helped by higher sales at its retail segment, sending its shares up 5 percent.

The camping, fishing and hunting equipment retailer earned $3.2 million, or 13 cents a share, compared with $0.8 million, or 3 cents a share, a year ago.

Revenue rose 2.5 percent to $276.6 million.

One analyst was looking for a profit of 3 cents a share, before items, on revenue of $281.8 million, according to Thomson Reuters I/B/E/S.

Sales at the company's retail segment rose 2 percent to $261.0 million.

In September, the company had said it intends to go private, with two of its largest shareholders agreeing to buy out shares held by the remaining shareholders.

Shares of the Saint Paul, Minnesota-based Gander Mountain were up 5 percent at $5.34 in trading before the bell. They closed at $5.08 Wednesday on Nasdaq.

(Reporting by Vidya Lakshmi in Bangalore; Editing by Pradeep Kurup)

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