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Golfsmith announces preliminary unaudited fiscal 2007 results
10 Jan '08
3 min read
Martin Hanaka, who today was appointed interim-CEO, stated: “As we have previously stated, our business is seasonal, with both Father's Day and the December gift-giving seasons contributing a higher percentage of our annual net revenues and annual net income than other periods.
While macroeconomic conditions were not in our favor and impacted our business, particularly with poor sales in December, we are committed to our long term strategy.
We are moving forward with our business plan for 2008 while also focusing on expenses and margins.” The company's full results for fiscal 2007 will be released in March, with a conference call to follow the release.
In a separate release , Golfsmith announced that James Thompson has resigned as Chief Executive Officer to pursue other interests.
The Board of Directors has appointed Chairman Martin Hanaka as the company's interim Chief Executive Officer. The company also announced that it expects to incur a one-time charge of approximately $800,000 in the first quarter of fiscal 2008 associated with Mr. Thompson's separation package.
Conference Presentation:
The company will be presenting at the 10th Annual ICR XChange Conference held at the St. Regis Monarch Beach Resort & Spa in Dana Point, California on Wednesday, January 16, 2008 at 2:15 pm Pacific Standard Time. Martin Hanaka, Interim Chief Executive Officer and Ginger Bunte, Chief Financial Officer will host the presentation.
While macroeconomic conditions were not in our favor and impacted our business, particularly with poor sales in December, we are committed to our long term strategy.
We are moving forward with our business plan for 2008 while also focusing on expenses and margins.” The company's full results for fiscal 2007 will be released in March, with a conference call to follow the release.
In a separate release , Golfsmith announced that James Thompson has resigned as Chief Executive Officer to pursue other interests.
The Board of Directors has appointed Chairman Martin Hanaka as the company's interim Chief Executive Officer. The company also announced that it expects to incur a one-time charge of approximately $800,000 in the first quarter of fiscal 2008 associated with Mr. Thompson's separation package.
Conference Presentation:
The company will be presenting at the 10th Annual ICR XChange Conference held at the St. Regis Monarch Beach Resort & Spa in Dana Point, California on Wednesday, January 16, 2008 at 2:15 pm Pacific Standard Time. Martin Hanaka, Interim Chief Executive Officer and Ginger Bunte, Chief Financial Officer will host the presentation.
Golfsmith International Holding Inc
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