The Company also updated its full year outlook. The Company noted that it is experiencing challenges at retail related primarily to an over-inventoried position of product at many of the Company's domestic accounts which will have a significant adverse affect on its fourth quarter 2007 results.
Based on these factors, the Company now expects net sales and net income growth of 10% - 15% in 2007 versus 2006. It should be noted that the Company's fully diluted outstanding share count is projected to be 28.3 million shares for the full year 2007, compared with 25.1 million for 2006.
Mr. Staffaroni concluded, “The first half of 2007 was filled with many important financial, operational, and strategic accomplishments that have enhanced our brand equity and strengthened our infrastructure in order to better support our future growth strategy."
"Our entire organization is focused on successfully executing our business plan, which includes introducing new and innovative products in our core business, further penetrating the international marketplace, selectively increasing our domestic distribution, and developing additional footwear and non-footwear categories under the Heelys brand."
"We remain optimistic about the company's future long-term growth prospects and the opportunities that lie ahead.”
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
