Financial reports: Sport Supply Group, Collegiate Pacific

Sport Supply Group reports profit

Dallas-based Sport Supply Group (OTCBB: SSPY), which markets sporting goods to institutions and youth organizations, suffered a 7% decline in third-quarter sales. Nonetheless, the company was able to turn around last year’s lost and post a profit for the quarter. For the three months ended Sept. 27, Sport Supply Group has net earnings of $22,225 on net sales of $26.1 million. For the comparable period of last year, the company lost $321,461 on sales of $28.2 million.

The company attributes the revenue shortfall to a soft school sales. But in a statement, president John Walker said, “We are seeing a noticeable increase in the government and school sectors, and we remain optimistic that the interruption to our markets as a result of last year’s events may be beginning to subside.”

Collegiate Pacific scares up sales and earnings gains Citing a 26% increase in sales and the benefits of its operating leverage, athletic equipment marketer Collegiate Pacific (Amex: BOO) reported an 88% rise in first-quarter net income. For the three months ended Sept. 30, the company had income of $279,000 on sales of $4.8 million. For the previous fiscal first quarter, net income was $148,000 on revenue of $3.8 million.