Institutional and team sporting goods supplier Sport Supply Group saw second quarter profit more than double despite a slight downturn in sales.

The US company's revenues fell by 1.7% to US$53.2m in the three months to 31 December, but revenues for the first half as a whole climbed 1.8% to $126.8m.

Net income for the second quarter more than doubled, rising to $1.05m from $452,000 a year ago, while for the first half, the figure was $6.1m, up from $4.5m.

Sport Supply chairman and CEO Adam Blumenfeld said he was "extremely pleased" with the results, given the tough economic climate.

"This economy, while challenging to all, creates opportunities for those with strong balance sheets and best-of-breed operating platforms," he added. "We believe Sport Supply is the leader in each of these categories and, while we intend to manage responsibly through these times, we also intend to be tactically aggressive in building the business in ways meant to expand profitability and ultimately shareholder value."

Meanwhile, the company announced a new, three-year $40m credit facility with Bank of America, which could be extended to $60m subject to conditions.