Dreams, Inc., expects to report total revenues of $141.7 million, increasing 27 percent for the year ended Dec. 31, 2011, from $111.4 million in 2010 based on preliminary unaudited information. The technology driven, multi-channel retailer focused on the licensed sports products industry also expects to report e-commerce revenues of $113.0 million, up 33 percent from $84.7 million in 2010.
The increase in revenues was supported by the continued growth in Dreams’ e-commerce platform, led by www.FansEdge.com, as well as the company’s web syndication business.
“These preliminary record revenue results are a true testament to our fully integrated e-commerce platform driving additional market share in the team licensed sports products industry,” said Ross Tannenbaum, president and CEO of Dreams. “The proactive investments we made in our human capital over the past two years have also supported this year’s double-digit revenue growth. We have achieved significant organic growth from our web syndication partners as they fully integrate into our system and realize a greater revenue stream as a result our proprietary and customizable technology.”
Continued Tannenbaum, “As we progress through 2012, we expect sustained organic growth that will be driven by our flagship FansEdge brand and our robust pipeline of potential web syndication partners. We look forward to providing our complete 2011 results and will give additional clarity on what we believe are the important metrics to value our company.”
2012 Outlook
Dreams expects fiscal year 2012 total revenues to be $175 million with $147 million attributed to the company’s e-commerce channel.
