On Holding Drops 14% In Pre-market After Reporting Q4 Loss

(RTTNews) - Shares of On Holding AG (ONON), a provider of sports products, are down more than 14 percent in pre-market trade on Tuesday at $28.82, after reporting a loss on adjusted basis for the fourth quarter compared with profit last year.

Excluding one-time items, the company posted loss of CHF 16.3 million or CHF 0.05 per share compared with profit of CHF 7.5 million or $0.02 per share last year.

The company reported a net loss of CHF 26.8 million or CHF 0.08 per share for the fourth quarter, compared with CHF 26.4 million or CHF 0.08 per share in the same quarter a year ago.

Net sales for the quarter increased 21.9% year-over-year to CHF 447.1 million.

On Holding shares had closed at $33.62, up 1.6 percent on Monday. The stock has traded in the range of $19.90 - $37.08 in the last 52 weeks.