Bullet Sports International Inc. announces second quarter results.SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Oct. 23, 1995--Bullet Sports International Inc. (Bullet) reported sales for the second quarter of $4.4 million, which represents an increase of $397,507 or 10 percent over the sales recorded in the comparable period in 1994 by the company whose business Bullet acquired in January 1995. Strong sales of the Bullet .444 oversized o·ver·size n. 1. A size that is larger than usual. 2. An oversize article or object. adj. o·ver·size also o·ver·sized Larger in size than usual or necessary. irons and the inclusion of sales from two business acquisitions in June 1995 were partially offset by the decrease in sales of the "Hollow-Point" clubs and deletion of certain golf accessory and clothing product lines. These sales gains were insufficient, however, to overcome the decline in sales in the first quarter of the year. As a result, net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the six months ended Aug. 31, 1995 were $9,035,385 compared to $9,398,698 a year earlier. Net loss per share for the three months ended Aug. 31, 1995 was $0.33. $0.04 per share of this loss was due to operating losses operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. sustained from one of the businesses acquired in June 1995. Cumulative net loss per share for the six months ended Aug. 31, 1995 was $0.59. Comparable net loss per share for 1994, a year in which the company had no active operations, were $0.00 and $0.01 respectively. President and Chief Executive Officer, Andrew J. Kacic, said management fully expected that the company would not achieve profitability until the end of its first full fiscal year of significant operations since it acquired the golf business and related assets of Roger Dunn Golf Shops Inc. earlier this year. In the seven months since the acquisition, management has attained significant industry recognition of the newly restructured company, including a favorable debut at the PGA (1) (Professional Graphics Adapter) An early IBM PC display standard for 3D processing with 640x480x256 resolution. It was not widely used. (2) (Programmable Gate Array) See gate array and FPGA. show in Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. in early September. Management is confident that profitability can be attained by continuing to focus on improving gross profit margins Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. and reducing expenses. Toward these ends, the company has reduced senior management salaries in the third quarter and has undertaken a comprehensive review of staffing levels and all categories of expenses. CONTACT: Bullet Sports International Inc., Scottsdale Michael Salter salt·er n. 1. One that manufactures or sells salt. 2. One that treats meat, fish, or other foods with salt. Noun 1. , 602/970-6976 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion