Collegiate Pacific Q4 Revenues Exceed Forecast.Business Editors DALLAS--(BUSINESS WIRE)--June 30, 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 stated that revenues for its fourth quarter ended June 30 will "comfortably exceed the most recent projection of $6 million." Operating Highlights for the Period -- Company accelerates reduction of bank debt, which now stands at $800,000 -- Employees vote in favor of exchanging annual salary increases for profit sharing profit sharing, arrangement by which employees receive, in addition to their wages, a share of the net profits of a business. The purpose is to give them an incentive to increase their output through enhanced morale, less wasteful use of materials, better care of -- Company now staffed for 2004/2005 fiscal years -- Revenues per employee reach $425,000 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 realize increased demand for products and services from our growing customer base, which is being translated into higher revenue growth and cash flows. As the result of increased earnings and cash flows we have reduced our outstanding borrowings under our $5 million credit facility to $800,000. "With the exception of a few support employees that would be required in future expansion, we have now completed the addition of approximately 8 new employees for the 2004/2005 fiscal years. Our revenue per employee of $425,000 is believed to be the highest in the industry which when coupled with an average invoice value of $500 creates an operating platform which should generate a significant amount of 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. ." Employees Vote for Performance Compensation "For the first time in our history we offered our employees the choice of receiving traditional annual salary increases or performance increases based on incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. sales growth and profitability. They responded by unanimously voting in favor of the profit sharing and gladly accepted the challenge of creating higher revenues and earnings. With all of our employees being direct or indirect shareholders we are delighted to align align (  līn),v to move the teeth into their proper positions to conform to the line of occlusion. them with all our public shareholders in terms of achieving maximum results and shareholder values." Collegiate Pacific is the nation's fastest-growing manufacturer and supplier of sports equipment primarily to the institutional markets and selected team sports dealers. The Company offers more than 3,200 products to 35,000 existing and 200,000 prospective customers. 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. |
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