Collegiate Pacific pre-announced expected sales results for its fiscal third quarter ended March 31, 2004. The Company sees Q3 sales approximating $11 million, or approximately 10-13% above previous forecast, driven by organic sales growth of approximately 27% and strong performance from its newly acquired property, Tomark Sports. The Company noted that these results are without any contribution from its newly acquired Kesslers Team Sports subsidiary which did not close until April 1, 2004.
Michael Blumenfeld, CEO of Collegiate Pacific, stated: “Q3 is a bellwether quarter for the Company as it is the largest period of the year for our core athletic line of products. Organic growth of approximately 27% is a testament to our proprietary direct-selling platform; growing customer base and expanding product base to feed the demand. Recently acquired Tomark Sports contributed at the top end of our sales range as well for the quarter. It is premature to discuss income levels for the quarter at this time, however, we anticipate releasing Q3 earnings during the first half of May, 2004. The Company will host a conference call in conjunction with this release to discuss the quarter and future plans.”
Sales Metrics of Note:
- The Company's in-house manufacturing unit exceeded $1M in monthly sales for the first time in corporate history during the Quarter.
- The Company exceeded $5M in Monthly Sales for the first time in corporate history during the Quarter. Future Targets Set
Mr. Blumenfeld continued: “It is particularly gratifying to produce these results while simultaneously integrating the Tomark Sports acquisition and completing the Kesslers Team Sports acquisition, which closed on April 1, 2004. With Kesslers now closed, we anticipate quarterly consolidated sales growth over the next two quarters of more than 200% and 300% respectively. We continue to review a number of acquisition and joint venture targets which, if consummated, could have an additional accretive effect on sales and income.”
