The Sportsman's Guide, Inc. saw net sales for the first quarter increase 11% to $71.6 million from $64.6 million for the same period in 2005. The increase in net sales for the period was primarily due to increased Internet-related sales. Sales at Sportsmans Guide increased “in excess of 10%,” while sales at The Golf Warehouse grew 13%.
Gross margins decreased 10 basis points to 30.9% of sales from 31.0% last year, while SG&A expenses were 26.1% of sales, an increase of 60 basis points from 25.5% last year.
The margin decrease paired with the expenses increase caused net income to slip 4.3% to $2.2 million, or 27 cents per fully diluted share from $2.3 million, or 28 cents per fully diluted share for the comparable quarter last year.
