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Golf Galaxy reports net loss for Q1 2006

18 Apr '06

3 min read

Golf specialty retailer Golf Galaxy Inc has announced its financial results for the fourth quarter and fiscal year ended Feb. 25th 2006.

The net sales for fiscal 2006 increased 50.4 percent to $200.1 million, compared with $133.1 million for fiscal 2005. The increase was driven primarily by the addition of 16 new stores in the fiscal year and a comparable store sales gain of 7.3 percent.

Golf Galaxy reported net income of $5.3 million, or 47 cents per diluted share, for fiscal 2006, compared with net income of $7.5 million, or 98 cents per diluted share, for fiscal 2005.

"We are very pleased with our performance in fiscal 2006. We opened 16 new stores, delivered a 7.3 percent comparable store sales increase, more than doubled our earnings per share on a pro-forma basis and initiated a key acquisition. And we delivered these results in the same period we completed our initial public offering," said Randy Zanatta, Golf Galaxy President and Chief Executive Officer.

"We look forward to growth in sales and earnings again in fiscal 2007 as we continue to deliver on our 'Everything for the Game' brand promise for our customers," Randy said.

Golf Galaxy's net sales for the fourth quarter of fiscal 2006 increased 49.5 percent to $40.1 million compared with $26.8 million for the same period of the prior fiscal year. Comparable store sales increased 2.5 percent for the fiscal fourth quarter, on top of an increase of 4.8 percent for the fourth quarter of fiscal 2005.

Golf Galaxy Inc

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