Collegiate Pacific discussed earnings for its 2003 year which ends June 30. Michael Blumenfeld, CEO, in discussing the year, anticipated results and future periods, stated “As previously disclosed, the results for the year will include accelerated marketing expenses on one hand and will be aided by the final utilization of tax credits on the other. It is anticipated that commencing with our 2004 fiscal year that all future periods will reflect a full corporate tax rate.
“Using 2003 as a platform, we believe that revenues and earnings for the next three fiscal years will expand dramatically. We forecast and manage Collegiate Pacific based on three year intervals. We now expect revenues to grow at 20%-25% annually and EPS (based on the current 4.3m primary shares outstanding) to reach or exceed $.70 per share during this new three year cycle. Details for each of the next three years projections will be discussed at the Company’s upcoming annual meeting. Successful acquisitions or corporate developments could result in higher revenues and earnings.
“We remain focused on continuing to be the leading innovator and supplier of new products to our customers. Our internally designed and manufactured products now represent approximately 35% of our total revenues and continue to grow in proportion to our overall revenue base.”
