Cabela's reports record revenues for Q3
For its third quarter, Cabela's (NYSE: CAB) revenue increased 14.1 percent, while its profit declined 8 percent as costs related with new store openings offset a strong showing in its retail division.
Total revenue hit a record $490.5 million compared to $429.8 million for the same period last year. Third-quarter net income was $15.0 million, or $0.23 per diluted share, compared to $16.3 million, or $0.25 per diluted share, for the same period a year ago.
During the third quarter of fiscal 2006, direct revenue increased 4.7 percent to $232.2 million. Total retail revenue for the quarter increased 25.8 percent to $218.6 million. Same store sales for the quarter increased 3.1 percent. Financial services revenue increased 29.0 percent to $37.4 million for the third quarter of fiscal 2006.
Strong outdoor footwear sales aid LaCrosse's Q3
LaCrosse Footwear (Nasdaq: BOOT), parent of the LaCrosse and Danner brands, said sales to the outdoor market were up 7 percent spurred on by continued penetration success into the hiking and hunting boot markets.
Sales to the outdoor market were $20.3 million for the third quarter of 2006, compared to $18.9 million for the same period in 2005. Sales to the work market were $12.5 million for the third quarter, up 4 percent from $12.1 million for the same period in 2005.
Overall, LaCrosse reported third-quarter consolidated net sales of $32.8 million, up 6 percent from $31.0 million in the third quarter of 2005. Net income was $2.5 million, or $0.41 per diluted share, in the third quarter of 2006, compared to $2.5 million, or $0.40 per diluted share, last year. The results in 2006 include stock-based compensation expense of $100,000 or $0.01 per diluted share (net of tax) for the third quarter.
The company's gross margin was 38.6 percent of net sales for the third quarter of 2006, up from 36.7 percent in the same period of 2005, an increase of 190 basis points. LaCrosse's total operating expenses were $8.7 million in the third quarter of 2006, up 19 percent from $7.4 million in the same period of 2005.
Crocs Q3 revenue triples
Crocs (Nasdaq: CROX) reported a 192 percent jump in third-quarter revenue, as demand for its colorful slip-on footwear increased.
Revenue nearly tripled to $111.3 million, from $38.3 million in the year-ago period. Quarterly income totaled $21.5 million, or $0.53 per share, compared with a profit of $7.4 million, or $0.22 per share during the same period last year. Analysts expected $0.41 on revenue of $92.2 million.
Crocs said strong sales of both its core styles and new designs exceeded expectations. "Internationally, the brand has increased retail traction, which bodes well as we prepare to launch a full line of styles overseas next year," said Ron Snyder, president and CEO.
Crocs said it expects fourth-quarter profit between $0.40 to $0.43 per share, on revenue between $92 million and $95 million. For the year, Crocs sees profit between $1.50 and $1.53 on revenue between $334 million and $337 million.
In other company news: Crocs appointed Ronald L. Frasch and Marie Holman-Rao to its board of directors. Frasch has served as vice chairman and chief merchant of Saks Fifth Avenue, a division of Saks, since November 2004. Holman-Rao served as president, design services of Limited Brands from 1997 to March 2006 and currently serves Limited Brands as a consultant.
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