For the third quarter in a row, the Sportsman's Guide, Inc. announced that its originally released guidance needed to be raised, an action that sent shares up 24% for the week to close at $22.30 on Friday.
SGDE reported that net sales for the second quarter ended June 30 are now expected to be in the range of $63 million to $64 million, compared with net sales of $39.6 million for the same period last year and current average Street estimates of $56.0 million. Fully diluted earnings per share are now expected to be in the 28 cents to 30 cents per share range, compared to earnings per share of 16 cents for the same period last year and current average Street estimates of 20 cents per share.
The earnings per share numbers for 2004 have been restated to reflect the company's recently announced change in accounting policy for Buyer's Club revenues and adjusted to reflect the 3-for-2 stock split, distributed April 15, 2005.
