Collegiate Pacific's Holiday Sales Surge.Business Editors DALLAS--(BUSINESS WIRE)--Jan. 2, 2003 Collegiate Pacific (AMEX AMEX See: American Stock Exchange :BOO) today stated that orders entered for December were stronger than earlier projected and it now estimates a 60% increase for December vs. the 50% reported a week ago. Michael Blumenfeld, 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. , stated, "a 100% increase in orders during the holiday week resulted in the expansion of monthly increases in incoming orders and the respective order backlogs. As previously reported, orders entered and not shipped in December due to customer holiday closures and adverse weather conditions will be shipped in January." Financial Strength Expands "As of November 30 we have expanded our current financial ratio to 7:1 and believe that the projected increases in revenues and earnings during our primary selling season (Jan - June) will generate significant cash flows. We remain dedicated to utilizing our expanded financial resources for the benefit of shareholders and continue to evaluate such plans. At the same time, we have only utilized 20% of our outstanding credit facility and continue to search for accretive acquisitions Accretive Acquisition An acquisition that will increase the acquiring company's EPS. Notes: As they are expected to increase the acquiring company's future earnings, these acquisitions tend to be favorable for the company's market price. to maximize expansion of revenues and earnings." "The operating platform built by Collegiate Pacific allows for the inclusion of acquired revenues with a minimal impact to operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. . The operating leverage Operating Leverage A measurement of the degree to which a firm or project relies on fixed rather than variable costs. Notes: The higher the degree of operating leverage, the greater the potential danger from forecasting risk. from acquired revenues is therefore believed to be equal or greater than we achieve from internal growth." Collegiate Pacific is the nation's fastest growing manufacturer and supplier of sports equipment primarily to the institutional markets. The Company offers more than 3,200 products to 35,000 existing customers and generates the majority of its orders via the distribution of 1.5 million catalogs, Internet activity and telemarketing telemarketing, the practice of selling goods or services to customers by means of the telephone or of surveying consumer preferences in telephone conversations. . This report includes "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. " within the meaning of Section 27A of the Securities Act of 1933, as amended, and is subject to the safe-harbor created by that section. The Company's actual results may differ from the results discussed in any forward-looking statements. For additional information contact Mike Blumenfeld at 972/243-8100 or visit the Company web site at Cpacsports.com. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion