The Sportsman's Guide, Inc. Anticipates Record Sales and Earnings for Fourth Quarter and the Year
20 Janvier 2005 - 6:17PM
PR Newswire (US)
The Sportsman's Guide, Inc. Anticipates Record Sales and Earnings
for Fourth Quarter and the Year Recent Acquisition of The Golf
Warehouse and Growth in The Sportsman's Guide Business Drive
Anticipated Results Above Most Recent Guidance SOUTH ST. PAUL,
Minn., Jan. 20 /PRNewswire-FirstCall/ -- The Sportsman's Guide,
Inc. (NASDAQ:SGDE) today announced that it expects to report
results for the quarter and year ended December 31, 2004 above most
recent guidance and at the high end of current consensus estimates.
For the quarter the Company now anticipates reporting total
consolidated sales in the range of $92 to $93 million and earnings
per share in the range of $0.83 to $0.85. This would compare to
fourth quarter 2003 results of $71.7 million in sales and earnings
of $0.71 per share. For the year, the Company expects consolidated
sales in the range of $232 to $233 million and earnings per share
in the range of $1.40 to $1.42. This would compare to the total
year 2003 results of $194.7 million in sales and earnings of $1.16
per share. Consensus estimates for 2004 were for sales of $229
million and for earnings of $1.41 per share. Gregory R. Binkley,
President and Chief Executive Officer of the Company, stated, "Once
again we expect to report a year significantly above last year.
These results are due to the strong performance of The Golf
Warehouse, acquired in late June of 2004, and the continued growth
of The Sportsman's Guide. Internet-related sales at The Sportsman's
Guide were in excess of 42%, compared to 36% one year ago. As a
result of the strong fourth quarter, we should end the year with
approximately $9 million of cash and long-term bank debt of $5
million." Company officials also noted that the fourth quarter of
2004 included 14 weeks of activity, compared to 13 weeks one year
ago. This additional week resulted in approximately $4 million of
incremental sales with minimal effect on net earnings in the
quarter or for the year. The Company expects to announce the final
results for the year toward the end of February, following the
completion of the annual audit. It will also hold a conference call
at that time. The date of the announcement and conference call will
be released in mid February. The Sportsman's Guide offers
value-priced outdoor gear and general merchandise, with a special
emphasis on outdoor clothing, equipment and footwear, through
direct mail catalogs and two Internet sites. On June 29, 2004 the
Company acquired The Golf Warehouse, TGW.com, the Wichita, Kansas-
based leading online and catalog retailer of golf equipment,
apparel and accessories. The Company's e-commerce websites include
http://www.sportsmansguide.com/ , http://www.bargainoutfitters.com/
and http://www.tgw.com/ . Investor information is available on the
Company's investor relations website:
http://www.sportsmansguideir.com/ . This release contains
forward-looking statements which are subject to change based on
various important factors, including but not limited to general
economic conditions, a changing market environment for the
Company's products and the market acceptance of the Company's
catalogs. CONTACT: William P. Bartkowski 612-344-1012 DATASOURCE:
The Sportsman's Guide, Inc. CONTACT: William P. Bartkowski for The
Sportsman's Guide, Inc., +1-612-344-1012 Web site:
http://www.sportsmansguideir.com/ http://www.sportsmansguide.com/
http://www.bargainoutfitters.com/ http://www.tgw.com/
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