Why Vista Outdoor Inc's Shares Plunged 31% Last Month

Shares of Vista Outdoor Inc. (NYSE: VSTO) plunged a whopping 31.1% in November, according to data provided by S&P Global Market Intelligence, after reporting a disappointing loss for the fiscal second quarter.

Quarterly results weren't bad on the surface, but they included some shocking numbers. Quarterly revenue was down 14.2% to $587.3 million and adjusted earnings of $0.34 actually beat expectations. But a $152.3 million impairment of goodwill and intangible assets resulted in a $114.7 million, or $2.01 per share, loss for the quarter on a GAAP basis.

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Source: Fool.com