Collegiate Pacific saw a 95% increase in sales for the company’s fiscal second quarter be eschewed by several one time charges relating to everything from the termination of the merger with Sport Supply Group to SOX compliance as well as a $555k net loss for the quarter at Sport Supply, of which Collegiate Pacific owns a 73% stake.

Net sales increased 95% for the fiscal second quarter to $46.4 million from $23.8 million during the same period last year. Organic sales growth for businesses owned at least twelve months was approximately 15% for the quarter. Gross profit as a percentage of sales slipped 60 points to 32.6% from 33.2% last year. Further compounding the effects of the GM dip was a 670 basis point increase in SG&A expenses to 34.9%. The margin decrease and SG&A increase pushed net income into the red for the quarter, as BOO posted a $971,000 loss, versus net income of $581,000 in fiscal Q2 last year. The diluted loss per share was pegged at 10 cents per share for the quarter, down from EPS of six cents per share during the same quarter last year.

The company expects earnings per share between 20 cents and 26 cents for the balance of fiscal 2006. The company continues to see EBITDA for fiscal 2006 of $15 million or more. The company expects DEPS to be in the 62 cents to 78 cents range for fiscal 2007 with EBITDA of approximately $20 million.