Financial reports: NEBS, Collegiate Pacific

NEBS income improves despite sales dip

Given the rocky economy of the past year, it’s little surprise that annual revenue for New England Business Service (NEBS; NYSE: NEB) declined 5%. What is surprising is that net income nontheless rose 20%.

For the year ended June 29, the multititle mailer of business supplies and apparel reported net income of $22.5 million on sales of $557.5 million. For the previous fiscal year, NEBS netted $18.7 million on sales of $586.1 million. Fiscal 2001 had 53 weeks, compared with 52 weeks for fiscal 2002. The company credited the improved bottom line to “previous restructuring actions taken.”

Looking ahead, Groton, MA-based NEBS expects sales for the coming fiscal year to grow 3%-5% and earnings per share to increase 5%-8%.

Income skyrockets for Collegiate Pacific Citing an expanding customer base and improving operations, b-to-b sports supplies cataloger Collegiate Pacific (Amex: BOO) a nearly 20-fold increase in annual net income on a 27% rise in revenue. For the year ended June 30, the Dallas-based company posted income of $805,488 on sales of $16.9 million. Last year’s net income was $4,120 last year on sales of $13.3 million.

Fourth-quarter net income climbed 85%, to $481,352 from $260,628 last year. Revenue for the quarter increased 15%, to $5.3 million from $4.6 million.