Collegiate Pacific Order Backlogs at Record Levels.Business Editors DALLAS--(BUSINESS WIRE)--May 12, 2003 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 offered a view of its business midway Midway, island group (2 sq mi/5.2 sq km), central Pacific, c.1,150 mi (1,850 km) NW of Honolulu, comprising Sand and Eastern islands with the surrounding atoll. Discovered by Americans in 1859, Midway was annexed in 1867. A cable station was opened in 1903. through the Company's fourth quarter. 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 "We continue to see strong order demand with order backlogs reaching record levels. At the same time our cash flow has accelerated and we have commenced the pay down of our seasonal working capital line with the target of reducing these borrowings to near 0 in the next couple of months. "The consolidation of the sporting goods Noun 1. sporting goods - sports equipment sold as a commodity commodity, trade good, good - articles of commerce sports equipment - equipment needed to participate in a particular sport industry continues at the highest level seen in recent memory. Rawlings, Spalding Team Sports, Bike Athletics athletics or track and field also track-and-field games Variety of sport competitions held on a running track and on the adjacent field. It is the oldest form of organized sports, having been a part of the ancient Olympic Games from c. , Varsity Group and several other small and large sporting goods companies have been recently acquired. As the industry consolidates we believe that this activity triggers a secondary backlash of opportunities and we continue a variety of discussions with prospective targets. Collegiate Pacific offers an attractive and profitable operating platform for our prospective partners. Our 3,500 products and 40,000 customers allows for immediate and seamless penetration into the fastest growing segment of the sporting goods markets. We continue to design and bring to the market a substantial quantity of new products for our dealer and institutional customers." Collegiate Pacific is the nation's fastest growing manufacturer and supplier of sports equipment primarily to the institutional markets. The Company offers more than 3,500 products to 40,000 existing customers. This report includes "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. , 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. |
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