(Direct Newsline) The Sportsman’s Guide today had its common stock relisted on the Nasdaq National Market System, trading under the symbol SCDE.
The outdoor gear cataloger attributed the relisting to “a significant turnaround” in its business, CEO Gregory R. Binkley said in a statement.
In February 2001 the firm’s stock began trading on the Nasdaq SmallCap Market after the company fell out of compliance with the market value of public float requirement as set forth in Nasdaq Marketplace Rule 4450(a)(5), the company said at the time.
For the quarter ended March 31, Sportsman’s Guide posted sales of $41.6 million, up from $38.9 million for the same period one year ago. Net earnings totaled $784,000, a turnaround from the net loss of $167,000 in first quarter 2001. The company attributed the improvement to wider margins, contained costs, and increased Internet sales.