Fitness financials: Gaiam posts 19.8-percent jump in FY '07 revenue, plus Dick's Sporting Goods, Collective Brands, Brooks Sports, Foot Locker

Gaiam posted a 19.8-percent jump in FY '07 revenue, Dick's Sporting Goods' Q4 earnings rose, Collective Brands reported a Q4 profit loss, Brooks Sports reports 17.5-percent increase in '07 sales, and Foot Locker's Q4 profit dropped 23 percent.

Gaiam posts 19.8-percent jump in FY '07 revenue

Gaiam (Nasdaq: GAIA) reported a 19.8-percent increase in FY '07 revenue boosted by sales in its direct-to-consumer and business segments.

Revenue for the year was up $262.9 million from $219.5 million for 2006. The internal growth rate was 17.5 percent. Revenues for Gaiam's direct-to-consumer segment increased 20.5 percent to $151.4 million. Revenues for Gaiam's business segment increased 18.9 percent to $111.5 million.

Gross profit increased 20.0 percent to $168.4 million or 64 percent of revenue during 2007 from $140.3 million or 63.9 percent of revenue during 2006. It said the increase over 2006 was primarily due to higher margin international sales and subscriptions.

Operating income for 2007 increased 85.3 percent to $10.5 million, or 4.0 percent of revenue, compared to operating income of $5.6 million, or 2.6 percent of revenue, in 2006.

Net income for the year increased 51 percent to $8.5 million, as compared to net income of $5.6 million, for FY '06. Earnings per share for the year increased 48 percent to $0.34, from $0.23 per share for the last fiscal year. Depreciation and amortization for 2007 was $12.3 million.

For the fourth quarter of 2007, Gaiam revenue increased to $81.8 million from $72.8 million for the same period last year. With the portion of revenues received by end of third quarter, internal growth for second half of the year was 19.7 percent. Earnings per share for the fourth quarter was $0.17, and depreciation and amortization was $3.7 million.

According to Nielsen's VideoScan, Gaiam's U.S. market share in the fitness/wellness DVD category grew to 49.4 percent in 2007 from 44.7 percent in 2006.

During 2007, Gaiam generated $13.4 million in cash from its operations, compared to cash used of about $500,000 during the last year, repurchased 2.5 million shares of its stock and ended the year with $66 million in cash and no debt.

Including acquisitions, divestitures and the restructuring of our international markets as licensing, Gaiam said it expects its revenues for 2008 to be approximately $300 million.

Dick's Sporting Goods Q4 earnings rise

Fourth-quarter earnings for Dick's Sporting Goods (NYSE: DKS) increased 8 percent, boosted by two recent acquisitions and operational improvements.

The company earned $73.2 million, or $0.62 per share, compared with $67.7 million, or $0.60 per share, in the year-ago quarter. Revenue rose 18 percent to $1.21 billion from $1.03 billion a year earlier.

The company said results were achieved partly by its acquisition of Golf Galaxy in February of 2007 and Chick's Sporting Goods in November. Better margins and improved operational efficiencies also helped the quarter, the retailer said.

For the full year, Dick's posted a profit of $155 million, or $1.33 per share, compared with $112.6 million, or $1.02 per share, in 2006. Revenue rose 25 percent to $3.89 billion.

Citing an uncertain economic environment, Dick's said it expects to report a profit of 16 cents to 19 cents per share for the first quarter. Same-store sales, which include Dick's Sporting Goods and Golf Galaxy stores, are expected to fall by 1 percent to 4 percent compared with the first quarter of 2007.

For the full fiscal year ending in January 2009, the company predicts a profit of $1.49 to $1.54 per share. Same-store sales are expected to be flat to 1 percent higher than a year ago.

"We are cautiously optimistic about our business prospects in 2008," said Chairman and CEO Edward Stack in a statement. Despite the fact that it's continuing to add stores and grow its private label business, Stack added, "we can't ignore the uncertain macro economic environment we are all currently facing."

Collective Brands reports Q4 profit loss

Collective Brands (NYSE:PSS), parent of the Saucony and Hind brands, said it swung to a loss in the fourth quarter.

For the period ended Feb. 2, the company reported a net loss of $46.6 million, or $0.73 per share, compared with a profit of $24.6 million, or $0.37 per share, in the year-ago period.

Excluding a $29 million purchase accounting expense, the company's adjusted loss in the latest quarter was $19.7 million, or $0.31 per share.

Revenue rose to $776.8 million from $692.7 million. The 2006 period included an extra week compared with the latest quarter. The extra week represented revenue of $36.4 million, the company said.

For the year, Collective Brands posted profit of $42.7 million, or $0.65 per share, on revenue of $3.04 billion.

Collective Brands warned that in the next six to nine months, same-store sales could miss long-term goals.

Additionally, Collective Brands said about 180 employees would lose their jobs due to the closure of two North American distribution centers. The company said it plans to create about 130 new jobs at two other distribution centers.

Brooks Sports reports 17.5-percent increase in '07 sales

Brooks Sports, parent of Moving Comfort, said 2007 marked its sixth consecutive record year after a product and distribution refocus and leadership team shift that occurred in 2001 -- a move that, it says, has resulted in tripling the company's size.

Brooks grew overall brand sales revenue more than $30 million, or 17.5 percent, to more than $170 million for the year. Domestic revenue grew 20 percent compared to 2006, while international business revenue increased 19 percent. Operating earnings for 2007 were up 39 percent versus 2006.

For 2007, 76 percent of Brooks' domestic business was in the specialty running retail channel. Sports Marketing Surveys estimates the specialty running market grew 6 percent in pairs and 8 percent in retail dollars in 2007. Brooks' footwear market share increased one point for the third consecutive year to 19 percent, and retained its No. 2 position in retail.

According to Leisure Trends, which began publishing data on the specialty running market in April 2007, at the close of last year Brooks ranked No. 2 in apparel market share with 13.6 percent in units. Collectively, Moving Comfort and Brooks Sports claimed 18.2 percent apparel market share in specialty running, second only to Nike.

After its first full year of operation under the Brooks Sports umbrella, Moving Comfort's domestic sales revenue grew 18 percent relative to 2006. It also unveiled a new logo and began the process of rebranding via new hangtags, in-store fixtures, business collateral and catalogs.

Despite the slowing economy, Brooks Sports said momentum into 2008 remains solid for both brands. For the balance of the year as of March 9, 2008, Brooks' business posted a 24-percent future order backlog increase, lead by an international gain of 42 percent. Worldwide future order backlog for Brooks and Moving Comfort combined was up 18 percent compared to last year at the same time.

Foot Locker Q4 profit drops 23 percent, FY '07 down 79 percent

Foot Locker (NYSE: FL) said its fourth-quarter profit dropped 23 percent due to a shorter fiscal year and a drop in sales at stores open at least a year.

For the quarter ended Feb. 3, net income fell to $87 million, or $0.56 per share, from $113 million, or $0.72 per share, in the prior-year quarter.

Excluding an impairment charge, expenses for closing unproductive stores and a big income tax gain, the company said it earned $0.23 per share in the latest quarter. The company said an extra week in 2006 helped its profit in the year-ago quarter by 11 cents per share.

Revenue fell 10 percent to $1.48 billion from $1.65 billion in the fourth quarter of 2006. Same-store sales fell 7.8 percent in the quarter. The company partly attributed the sales decline to a softening consumer environment.

For the year, profit dropped 79 percent to $53 million, or $0.34 per share, from $251 million, or $1.60 per share, in the prior year. Revenue decreased 4 percent to $5.44 billion from $5.75 billion in 2006.

The company added that it expects profit between $0.65 and $0.85 per share in 2008. It also expects its same-store sales to be flat.

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