Financial reports: Sport Supply Group, Mobility Electronics

Sport Supply Group posts operating income

Sporting goods equipment supplier Sport Supply Group (OTCBB: SSPY) suffered a 4% decline in second-quarter net revenue, to $26.8 million from $28.0 million last year. But that’s not the story. Operating income for the quarter was $513,000, an improvement from the $266,000 operating loss posted for the second quarter of last year.

Sport Supply Group has more than 198 organizations under contract with its associate program and believes these organizations have more than 28 million members. The Dallas-based company’s associate program allows these organizations to incorporate its electronic catalog and market its sporting goods products to their members in exchange for a percentage of the revenue generated from the their sites.

Mobility narrows loss Scottsdale, AZ-based Mobility Electronics (Nasdaq: MOBE), which agreed to acquire iGo Corp., earlier this year reported revenue of $6.7 million for the quarter ended June 30. This compares to the $7.0 million recorded in the second quarter last year. On a reported basis, Mobility, which provides portable computing solutions for mobile computers, reported a net loss of $3.0 million, less than half of the $6.1 million loss it posted for the same period of last year.

Regarding the acquisition of iGo, which sells batteries and other accessories for mobile computers and devices, “we are on plan with our expectations and integration efforts,” Mobility president/CEO Charlie Mollo said in a statement. The company expects to close the acquisition in early September. “We will be reducing iGo’s cost structure significantly, while leaving their valuable direct catalog, Internet, and distribution sales channels intact,” Mollo said.