Leading value priced outdoor gear and general merchandise marketer Sportsman's Guide Inc announced that it expects to report record results for the year ended December 31, 2005 that, with respect to fully diluted earnings per share, will exceed the current average consensus estimate.
For the year, the Company expects consolidated net sales of approximately $285 million and diluted earnings per share in the range of $1.37 to $1.38.
This would compare with total year 2004 results of $232.5 million in net sales and earnings of $0.95 per diluted share.
The consensus average estimate for 2005 was for net sales of $285 million and for earnings of $1.36 per diluted share.
The diluted earnings per share numbers for 2004 have been restated to reflect the Company's change in accounting policy for Buyer's Club revenues announced in June and adjusted to reflect the 3-for-2 stock split, distributed April 15, 2005.
The Company also noted that 2004 results included fifty-three weeks of operations, fourteen weeks in the fourth quarter, compared to the normal fifty-two weeks, thirteen weeks in the fourth quarter, in 2005.
In earlier releases the Company disclosed that the extra week in 2004 accounted for approximately $4 million of incremental consolidated net sales.
In terms of the fourth quarter of 2005, the Company also expects record results, with consolidated net sales of approximately $95 million and fully diluted earnings per share of $0.53 to $0.54.