QualityStocks would like to highlight Gander Mountain Company (NASDAQ: GMTN). The company is the nation's largest retail network of stores for hunting, fishing, camping, marine, and outdoor lifestyle apparel and footwear, products and services. Established in 1960, the Gander Mountain brand has offered an expanding assortment of outdoor equipment, technical apparel and footwear, as well as gunsmith and archery services.
In the company’s news yesterday,
Gander Mountain Company reported its preliminary results for the fiscal fourth quarter ended January 31, 2009. The company anticipates announcing record fiscal 2008 fourth quarter consolidated sales of approximately $333 million versus consolidated sales of $318 million for the fourth quarter of the previous year.
Retail segment net income is also expected to hit record highs, totaling $23 million compared to net income of $7 million for the fourth quarter last year, a 328% increase. According to the press release, the substantial improvement resulted mainly from increased product margins and decreased SG&A costs.
David C. Pratt, chairman and interim chief executive officer, stated, “Record retail segment net income, improved cash flows from operations and reduced debt reflect a second consecutive quarter of progress at the ‘New Gander Mountain.’ We continue to apply a more disciplined approach to our operations, capital, and expense decisions.”
Commenting on the current year, he continued, “Heading into 2009, the retail environment is as difficult as any in memory. We believe that our ongoing efforts to build the leadership team, manage costs, improve operating margins, increase cash flows and reduce debt will continue the momentum we generated this last fiscal year.”
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
