Financial Reports, Sport Supply Group, Tessco

Net Income Way Up At Sport Supply

Dallas-based sports equipment merchant Sport Supply Group saw its revenue rise 4.1%, to $65.8 million, for the period ended March 31. Net income rose a whopping 94%, to $3.37 million, up from $1.73 million.

CEO Adam Blumenfeld said in a release: “The combination of top-line growth, gross margin expansion, and year-over-year expense reduction proved to be the perfect recipe for significant growth in cash flows and earnings leverage, allowing the company to produce operating margins of approximately 10% for the third quarter, and a 47% increase in earnings per share.”

Net Income Falls at Tessco For FY

Fourth-quarter sales for wireless communications cataloger Tessco Technologies increased 1%, to $128.3 million, for the period ended March 30. Net income rose 9%, to $1.7 million, up from $1.6 million. For the fiscal year, sales rose 6%, to $521 million. But net income fell 32%, to $4.8 million, from $7.0 million last year.

Tessco Chairman/president/CEO Robert B. Barnhill said in a statement that the company expects the current market conditions to continue throughout this fiscal year. “However we plan to grow earnings, independent of revenue growth, through continued intense focus on productivity. Increases in revenues will require the accelerated flawless execution of our initiatives to significantly increase the number of monthly purchasing customers and product cross sell through the expansion of our solutions focus and offering, Web-based marketing and sales organization.”

Partner Content

Hincapie Sportswear Finds Omnichannel Success in the Cloud - Netsuite
For more and more companies, a cloud-based unified data solution is the way to make this happen. Custom cycling apparel maker Hincapie Sportswear has leveraged this capability to gain greater visibility into revenue streams, turning opportunities into sales more quickly while gaining overall operating efficiency. Download this ecommerce special report from Multichannel Merchant to more.
The Gift of Wow: Preparing your store for the holiday season - Netsuite
Being prepared for the holiday rush used to mean stocking shelves and making sure your associates were ready for the long hours. But the digital revolution has changed everything, most importantly, customer expectations. Retailers with a physical store presence should be asking themselves—what am I doing to wow the customer?
3 Critical Components to Achieving the Perfect Order - NetSuite
Explore the 3 critical components to delivering the perfect order.
Streamlining Unified Commerce Complexity - NetSuite
Explore how consolidating multiple systems through a cloud-based commerce platform provides a seamless experience for both you, and your customer.