Collegiate Pacific Reports 95% Increase in Net Income.Business Editors DALLAS--(BUSINESS WIRE)--May 1, 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:BOO)
-- Nine Month Revenues up 23%- Net Income up 95%
-- Nine Month Primary EPS up 94%
-- Third Quarter Revenues up 22% - Net Income up 36%
-- Third Quarter Primary EPS $.14 v $.10 up 36%
Collegiate Pacific (Amex:BOO) today reported record earnings for its third quarter and nine months ended March 31, 2003. Michael Michael, archangel Michael (mī`kəl) [Heb.,=who is like God?], archangel prominent in Christian, Jewish, and Muslim traditions. In the Bible and early Jewish literature, Michael is one of the angels of God's presence. Blumenfeld Blumenfeld is a surname and may refer to:
The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. and net earnings. "We continue to operate the marketing side of the business on an aggressive basis. This business plan exaggerates our marketing expenses but we think the long term benefits greatly outweigh out·weigh tr.v. out·weighed, out·weigh·ing, out·weighs 1. To weigh more than. 2. To be more significant than; exceed in value or importance: The benefits outweigh the risks. the short term expense increases. "Our balance sheet remains in exceptional condition and we are prepared to react to any number of situations as they may surface."
Collegiate Pacific, Inc. and Subsidiaries
Condensed Consolidated Statement of Operations
( Unaudited )
Three Months Ended Nine Months Ended
March 31, March 31,
2003 2002 2003 2002
----------- ----------- ------------- ------------
Net sales $6,071,820 $4,957,946 $14,346,778 $11,621,015
Cost of sales 3,726,145 3,041,491 8,953,818 7,279,216
----------- ----------- ------------- ------------
Gross profit 2,345,675 1,916,455 5,392,960 4,341,799
Selling, general
and
administrative
expenses 1,738,007 1,449,136 4,704,436 3,899,911
----------- ----------- ------------- ------------
Operating
profit 607,668 467,319 688,524 441,888
Other income
(expense)
Interest
expense (25,729) (38,573) (61,572) (122,526)
Other income
(expense) 826 5 3,922 4,773
----------- ----------- ------------- ------------
Net income $582,765 $428,751 $630,874 $324,135
=========== =========== ============= ============
Net income per
share - basic $0.14 $0.10 $0.15 $0.08
=========== =========== ============= ============
Net income per
share - diluted $0.13 $0.09 $0.13 $0.07
=========== =========== ============= ============
Weighted average
shares
outstanding:
Basic 4,223,684 4,215,814 4,226,359 4,220,325
=========== =========== ============= ============
Diluted 4,349,377 4,917,048 4,734,478 4,573,785
=========== =========== ============= ============
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 Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the 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 new release contains "forward looking statements" within the meaning of section 21E of the Securities Exchange Act of 1934, 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. . The company has based these 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. on its current expectations and projections about future events, based on the information currently available to it. The forward-looking statements include statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the company's anticipated financial performance, business prospects, new developments, new strategies and similar matters. The following important factors, in addition to those described under the section "Risk Factors" in the company's Annual Report on Form 10-KSB for the year ended June June: see month. 30, 2002 (which is available upon request from the company or on the company's website, www.cpacsports.com, under the heading "Investors") may affect the future results of the company and cause those results to differ materially from those expressed in the forward-looking statements; material adverse changes in the economic conditions in the Company's markets including as a result of terrorist attacks; competition from others; and the ability to obtain and retain key executives and employees. For additional information contact Mike Blumenfeld at 972/243-8100 or visit the Company web site at Cpacsports.com. |
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