The Sportsman’s Guide, Inc. announced that the Company will report total sales in the range of $65 to $66 million and net earnings per share of $0.50 to $0.52 for its fourth quarter ended December 31, 2002.
The average consensus estimate of the two analysts who follow the company, and available through First Call(R), was for sales of $61 million for the quarter and earnings per share of $0.45.
For the year, the Company expects sales of $179 to $180 million and earnings per share of $0.77 to $0.79, again above the average consensus estimates of $174 million in sales and $0.73 earnings per share. The Company reported sales of $169.7 million and earnings per share of $0.58 for the year ended December 31, 2001. The results for 2001 reflected a reduction in the effective tax rate due to the reversal of a previously established deferred tax asset reserve; 2001’s fully diluted earnings per share would have been $0.49 without the benefit.
Gregory R. Binkley, President and Chief Executive Officer of the Company, commented, “We enjoyed a very strong fourth quarter with respect to sales and earnings per share and the quarter contributed to our best year ever. Our Internet-related sales maintained a strong pace, totaling over 30 percent of total sales and we ended the year with no debt and cash in excess of $16 million.”
The Company expects to report its final results for the quarter and the year in mid-February, after the completion of the annual audit.
