Collegiate Pacific Grows Sales; Net Income

Dallas-based Collegiate Pacific (AMEX: BOO) reported fourth-quarter net income of $923,000, a 48% increase compared with $623,000 last year. The institutional sporting goods cataloger reported that its net sales had risen 170% to $18.2 million, compared with $6.7 million last year.

The quarter and the year ended June 30. For the year, net sales grew 87% to $39.6 million vs. $21.1 million last year. Net income grew 50% to $1.9 million, compared to $1.3 million last year.

And thanks to a trio of acquired companies, Collegiate Pacific provided guidance for fiscal 2005. The company, which acquired Richmond, VA-based Dixie Sporting Goods in July 2003 and Corona, CA-based Tomark Sports and Richmond, IN-based Kesslers Sporting Goods this past January, expects net sales to exceed $90.0 million, compared with $39.6 million this year. The company is also expecting to grow net income to approximately $5.0 million, compared to $1.9 million.

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