Collegiate Pacific Reports Record Profits.Business Editors DALLAS--(BUSINESS WIRE)--Feb. 14, 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 reported that revenues and earnings for January surpassed any month in the companies history. 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, "January revenues of $1.92 million produced net income of $190,000 which represents a 62% increase over year ago results. Gross margins and average order size also reached new heights. Our rapidly growing customer base continues to gravitate grav·i·tate intr.v. grav·i·tat·ed, grav·i·tat·ing, grav·i·tates 1. To move in response to the force of gravity. 2. To move downward. 3. to our newly designed products which generates higher margins and invoice values. Our primary business platform which consists of designing, manufacturing and delivering sports equipment directly to the end users has proven resilient to economic trends and in many cycles has actually been countercyclical coun·ter·cy·cli·cal adj. Intended to compensate for immoderate developments in a business cycle: a countercyclical federal aid program. . While it is impossible to know if these results can be repeated in the months ahead, it is certainly a strong start to our primary selling season." 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. 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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