Financial Reports: NEBS, J. Jill, Collegiate Pacific

NEBS Sales and Earnings Down

Groton, MA—Business forms and supplies cataloger New England Business Service (NYSE: NEB) reported a 5% decline in third-quarter revenue, to $133.5 million from $141.1 million last year. Net income tumbled 32%, to $1.9 million for the three months ended Sept. 29. The company, whose titles include McBee’s and Rapidforms, posted a 3% dip in U.S. sales, to $66.8 million, and a 2% decline in U.S. profits, to $14.2 million.

J. Jill Feels Fallout from 9/11 Quincy, MA–Women’s apparel cataloger/retailer J. Jill (Nasdaq: JILL) estimates that the events of Sept. 11 cost the company $2.4 million in sales and $1.2 million in operating income. And since a catalog typically generates sales for several months after a mailing, J. Jill estimates that the events will result in an additional loss of revenue of $1.1 million into the fourth quarter.

For the quarter ended Sept. 29, net sales were $65.8 million, a 14% increase from $57.9 million for the third quarter of last year. But third-quarter net income dropped 20%, from last year’s $3.5 million to $2.8 million. During the quarter, sales from its direct business decreased 6%, to $47.9 million, following a 10% decrease in circulation. Web sales increased to $11.7 million, or 24% of total direct channel volume, as compared to $7.9 million, or 15% of direct sales, a year ago. Retail now represents 28% of Jill’s total sales, up from 12% last year.

Collegiate Pacific Reverses Net Loss Dallas–Collegiate Pacific (Amex: BOO), a manufacturer/marketer of team sports equipment, reported a 43% rise in third-quarter revenue, to $3.8 million for the three months ended Sept. 30. The company, which sells to schools and institutions, also reversed its net loss. After posting a net loss of $71,000 for the third quarter of last year, Collegiate Pacific reported income of $149,000.

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