Sport Supply Group, Inc. changed its tax and fiscal year-end to June 30, and appointed two new independent directors. In addition, the company announced significantly improved results of operations for the fiscal second quarter and half-year ended December 31.

The company previously had an October 31 tax year-end and a March 31 fiscal year-end and changing year-ends to the same date will help to streamline the accounting and tax return process resulting in enhanced efficiencies. The June 30 date was chosen to coincide with the year-end of Collegiate Pacific, Inc., of which Sport Supply is a consolidated subsidiary. Mirroring fiscal year-ends will eliminate additional financial reporting resulting from two different year-ends.

Sport Supply reported that net revenues increased 7.1% to $15.4 million for the company’s second fiscal quarter from $14.4 million last year. Gross margin increased 440 basis points to 33.7% of sales from 29.3% during the same quarter last year. The company was unable to translate the GM improvements into a net profit for the quarter, but did manage to improve its net loss by $1.2 million dollars to a loss of $632,000 from a $1.8 million loss during last year’s quarter.

Robert Philip and Dr. Thomas Treichler were appointed to the company's Board of Directors.