Financial Reports: Cabela’s, Interline Brands

Direct Sales, Total Sales, Net Income All Up at Cabela’s
Cataloger/retailer Cabela’s posted a 7% rise in both fourth-quarter and full-year direct revenue. For the three months ended Dec. 31catalog and Internet sales totaled $404.9 million. For the year, direct revenue hit $1.03 billion, up from $970.6 million in 2004.

Total fourth-quarter revenue for the Sidney, NE-based outdoor products merchant increased nearly 17%, to $675.4 million from $579.1 million during the same period in 2004. Net income increased 10.5%, to $42.5 million from $38.5 million.

Total revenue for 2005 was a record $1.80 billion, up nearly 16% from $1.56 billion in 2004. Annual net income increased 12%, to $72.6 million from $65.0 million in 2004. Retail revenue grew 24%, to $620.2 million.

“The positive momentum we experienced during the holiday season gives us a heightened degree of confidence as we head into 2006,” president/CEO Dennis Highby said in a statement.

Cabela’s opened four large-format destination stores in 2005–two in Texas and one each in Utah and Minnesota–and expects to open five more this year.

Record Top and Bottom Lines for Interline Brands
Jacksonville, FL-based maintenance, repair, and operations supplier Interline Brands set records for net sales and net income in the year ended Dec. 30. Annual sales increased 15%, to $851.9 million, compared with $743.9 million for 2004. Net income increased 23%, to $36.3 million from $29.3 million.

Average organic daily sales grew 11.2%, largely due to strategic growth initiatives in the professional contractor markets, according to a statement. Fourth-quarter net sales increased 16%, to $226 million.

The acquisition of Fairfield, IA-based Copperfield in July 2005 added $34.3 million in sales for 2005.Interline paid $70 million for the $41 million distributor of specialty ventilation and chimney maintenance products.

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