Collegiate Pacific Inc. posted a strong third quarter that saw sales from the company’s acquired Dixie, OTS, Kesslers, and Salkeld (or DOKS) division combine with a “12% to 13%” organic sales increase combine to boost sales 120%. The company also launched a program to extend its sales coverage, hoping to pick up seasoned veterans to cover the high school and college markets across the country. Management described the quarter as “solid” in a conference call with analysts, with “solid execution across all platforms.” Management also hinted at the possibility of an acquisition in the near future, pointing out that such an event might occur should a company for sale offer coverage of a currently underserved geographic region or should it be readily in line for a vertical integration.

When asked directly about the performance of Sport Supply Group, of which BOO holds a 73% stake, management declined to give specific details, but said that the company continues to perform within margin and expense expectations, but that sales can be improved.

Fiscal third quarter net sales increased 120% to $59.4 million from $27.0 million for the same period last year. Gross margins increased 20 basis points over last year’s third quarter to 35.3% of net sales, while SG&A expenses decreased 610 basis points to 29.0%. The GM increase came as a result of raised prices in the Collegiate Pacific business and the meeting of sales goals by the DOKS team. Net income increased 56.5% to $1.2 million with 12 cents diluted earnings per share.