Sports Authority Inc presents Q3, 2005

18 Nov '05

4 min read

Sporting Goods Company Sports Authority Inc announced results for its third fiscal quarter ended October 29, 2005.

-- Diluted EPS of $0.13 vs. previous guidance of $0.09 and $0.01for last year, excluding integration costs

-- Comparable store sales increase of 1.2 percent

-- Merchandise inventories reduced $52.3 million (-8.3 percent on a per square foot basis) vs. third quarter last year

-- Long-term debt reduced $70.2 million vs. third quarter last year

Net income for the third quarter was $3.5 million, or $0.13 per diluted share, compared with a net loss of $2.8 million, or $0.11 per diluted share, including merger integration costs, in the prior year's third quarter.

Excluding the effect of after-tax merger integration costs of $2.9 million, or $0.11 per diluted share, net income for the prior year's third quarter was $0.2 million, or $0.01 per diluted share.

Total sales for the third quarter were $560.0 million compared with $545.0 million in the prior year's third quarter, an increase of $15.0 million, or 2.8 percent.

Third quarter comparable store sales for the Company increased 1.2 percent.

Net income for the 39 weeks ended October 29, 2005 was $25.6 million, or $0.96 per diluted share, compared with net income of $8.2 million, or $0.31 per diluted share, including merger integration costs, in the prior year's comparable period.

Excluding the effect of after-tax merger integration costs of $13.3 million, or $0.50 per diluted share, net income for the prior year's 39 weeks was $21.4 million, or $0.81 per diluted share.

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