Avid Sportswear & Golf Corp. Announces the Results of the Second Quarter Ended June 30, 2001.Business Editors GARDENA, Calif.--(BUSINESS WIRE)--Oct. 1, 2001 Avid Sportswear & Golf Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AVSG) today announced the results of the second quarter ended June 30, 2001. Sales for the three months ended June 30, 2001 were $11.4 million, compared to sales of $2.6 million. The net loss for the three months ended June 30, 2001 was $2.3 million or $.03 per share compared to a net loss of $1.6 million or $.09 for the same period a year ago. Sales for the six months ended June 30, 2001, were $17.9 million compared to $3.7 for the same period a year ago. The net loss for the six months ended June 30, 2001 was $2.6 million or $.05 per share compared to a net loss of $4.1 or $.13 per share for the same period a year ago. The Company commented that the loss for the current period was primarily attributable to the termination of the Dockers
Dockers is a brand of Levi Strauss & Co. Levi Strauss & Co. Golf label on May 9, 2001. President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Mr. Frank Jakovac, stated that "Avid's new management team has been evaluating and developing several new business strategies." Jakovac further stated that he was "optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op that the corporation would be able to consummate To carry into completion; to fulfill; to accomplish. A Common-Law Marriage is consummated when the parties live in a manner intended to bring about public recognition of their relationship as Husband and Wife. a strategic new business venture, however, no new opportunity has been consummated at this time." The Company also announced that it has accepted the resignation of Mr. Earl Ingarfield Earl Ingarfield is the name of two former National Hockey League players
Statements contained in this news release may be forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , subject to uncertainties and risks, many of which are summarized under the caption "Certain Business Risks" in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2000 as filed with the Securities and Exchange Commission. Forward-looking statements by their nature involve substantial risks and uncertainties. As a result, actual results may differ materially depending on many factors, including those described above. The Company cautions that historical results are not necessarily indicative of the Company's future performance. |
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