Sportsman's Guide Sales to Beat Estimates for Quarter
The Sportsman's Guide Inc.said it expects to report sales above expectations for the quarter ending Dec. 31.Sales for the quarter are expected to be $60 million to $62 million, higher than the current analyst estimate of nearly $57 million as well as the $59 million reported for the same quarter last year.
Management noted that earnings per share for the quarter also are expected to exceed current estimates, but would not specify a range.
"There is no question that we are experiencing one of the strongest quarters in our history," said Gregory R. Binkley, president/CEO for the South St. Paul, MN, company. "Sales are now expected to come in above the high end of our plan and, as a result, we anticipate ending the year without bank borrowings and with well over $5 million of cash on the balance sheet."
Internet-related sales are expected to be "well over" 20 percent of total fourth-quarter sales. Internet-related sales amounted to nearly 30 percent of total sales recorded during the week before Christmas.
