Strong performance of Golf Warehouse lifts Sportsman's Q4 sales 10%
08 Mar '06
3 min read
Brand merchandising company Sportsman's Guide, Inc reported record results of operations for the quarter and year ended December 31, 2005, with consolidated net sales and earnings per share that are at the high end of the Company's most recent guidance.
After adjusting out the additional week in the fourth quarter of 2004, the consolidated net sales for the fourth quarter of 2005 increased by nearly 10 percent to $95.2 million.
Company officials noted that the fourth quarter of 2004 included 14 weeks of activity, compared with 13 weeks this year.
The additional week resulted in approximately $4 million of incremental net sales with minimal effect on net earnings in the quarter or for the year of 2004.
The Company reported net earnings of $4.5 million, or $0.53 per fully diluted share for the fourth quarter of 2005, compared with $3.7 million, or $0.46 per share, reported for the three months ended December 31, 2004.
Earnings per share for 2004 reflect the 3-for-2 stock split, distributed April 15, 2005.
For the twelve months ended December 31, 2005, consolidated net sales were $285.1 million, a 23 percent increase over the $232.5 million reported for 2004.
The increase is nearly 25 percent when the additional week in 2004 is not considered.
The Company recorded net earnings of $11.5 million, or $1.38 per fully diluted share, for the year, an increase of 51 percent when compared with net earnings of$7.6 million, or $0.95 per share, for the twelve months ended December 31, 2004.