Execute Sports quarterly sales drop, cuts loss

19 Aug '06

3 min read

The decrease in the net loss is due primarily to a decrease in stock based compensation for professional services and key employees offset by lower sales and higher costs related to being publicly traded.

Todd Pitcher added that, "We have added several key accounts this past season for our water sports line including Boater's World, Marine Max, Big 5 and online as well through GSI Commerce which brings us into Sport Chalet, Dick's Sporting Goods and the Sport Authority. In addition, through the purchase of Pacific Sports Group last January, we will now be able to add wake skates and footwear to our water sports programs this next season under the Kampus and Execute brands so we think the company is extremely well positioned for growth.”

“We have now moved out of water sports sales and are entering the snow sports season and are looking forward to demonstrating continued strong growth in snowboard sales both domestic and international with the Academy Snowboard Co brand. Results from sales from this segment will begin to be reflected in the third quarter financial reports through the first quarter of 2007," Pitcher added.

Based in San Clemente, California, Execute Sports Inc develops performance products including wetsuits, vests, rash guards, snowboards, wakeskates, bindings, bags and apparel for the action sports industry.

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