Clarus Due Off Halt at 5 PM ET

Clarus (CLAR) is due off a trading halt at 5 PM ET. The company said it’s planning a modified Dutch auction tender to purchase up to $7.2 million of shares of its common stock at a purchase price not greater than $7.20 nor less than $6.60 per share.

If the Tender Offer is fully subscribed, Clarus will have purchased approximately 3.3% to 3.6% of outstanding shares as of May 7.

Separately, it said Q1 sales rose 28% to $53.3 million from the year-ago period and beat the CapIQ mean for $52.1 million.

Adjusted EPS rose to $0.13 from $0.02 last year but missed expectations for $0.15.

It swung to net income of $0.01 per share from a loss of nickel a year ago.

It expects fiscal year 2018 sales to grow 17%-20% to approximately $200 million-$205 million and in line with forecasts for $202.7 million.

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