Collegiate Pacific Expands Licensing Agreement; New Expansion Opens $50 Million Market; New Acquisitions Sought.Business Editors DALLAS--(BUSINESS WIRE)--April 4, 2001 Collegiate col·le·giate adj. 1. Of, relating to, or held to resemble a college. 2. Of, for, or typical of college students. 3. Of or relating to a collegiate church. Pacific (AMEX AMEX See: American Stock Exchange :BOO) today announced that it has extended its licensing and distribution agreements with Edwards Sports of Bridport England by an additional 5 years and has expanded its relationship with Edwards. 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. of Collegiate, stated, "By extending the licensing agreement to 10 years we can now commence a very long term planning process for our primary line of tennis equipment. Edwards' tennis nets are internationally renowned for use at such prestigious tournaments as the French Open and Wimbledon. We have also entered into a design, production and distribution relationship which will offer Collegiate access to a wide variety of Edwards' manufactured products for the growing USA soccer and baseball markets. We will commence offering these new products in July of this year to our 27,000 dealer and institutional accounts. Edwards is the official supplier of soccer goals and accessory products to the famous Manchester Soccer Training facility in England. These new products will open $50 million of new markets to Collegiate. "With our three primary acquisitions (Vantage, Product Merchandising and Kesmil) now generating significant contributions to revenues and operating earnings Operating Earnings Profits after subtracting expenses such as marketing, cost of goods sold, administration and general operating costs from revenue. Notes: Tax and interest expenses are not subtracted - operating earnings are synonymous with EBIT (earnings before , we are now ready to add new partners whose operations can benefit from our marketing and managerial resources. It is our belief that Collegiate's operating platform has now reached the point where increases in revenues will allow for significant 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. ." This news release, other than historical information, consists of 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. that involve risks and uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission. |
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