USA: Everlast Q3 Revenue Up 13% On Initiatives
Sports apparel and goods company Everlast has reported 13 per cent growth in third-quarter revenue from continuing operations, attributed to initiatives put into place in late 2004 and early 2005.
Everlast said third-quarter revenue was $12.6 million compared to $11.1m last year, mainly because of a 13 per cent rise in continuing apparel operations and sporting goods sales to $9.8m from $8.6m a year ago. Net licensing revenues also grew 13 per cent to $2.8m compared with $2.5m last year.
For the nine months ended September 2005, net revenues from continuing operations increased 23 per cent to $37.3m over 2004, led by a 27 per cent increase in licensing revenues along with a 22 per cent increase in continuing apparel operations and sporting goods net sales.
Net income from continuing operations was $391,000 compared to a net loss of $134,000 last year. Net income after $216,000 in costs associated with the discontinued women's business component was $175,000 compared with a net loss
of $249,000 last year.
Nine-month net income from continuing operations was $352,000 compared to a loss of $177,000 a year ago.
President and chief operating officer Seth Horowitz said: "our results of
operations have benefited from the initiatives we implemented in late 2004
and early 2005.
"These initiatives included the licensing of our women's business, the signing of other licensing deals, and the strategic product placement deal done in connection with The Contender reality television show".
Everlast manufactures markets and licenses sporting goods and apparel products under the Everlast brand name.
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