Fitness financials: Big 5 posts lower Q4 sales, profit
A challenging economy and variances in the weather resulted in lower fourth-quarter revenue and profit for Big 5 Sporting Goods.
Get access to everything we publish when you sign up for Outside+.
Big 5 posts lower Q4 sales, profit
A challenging economy and variances in the weather resulted in lower fourth-quarter revenue and profit for Big 5 Sporting Goods (Nasdaq: BGFV).
For the quarter ended Jan. 2, net sales were $226.7 million, compared to $237.6 million for the 14-week fourth quarter of fiscal 2009. Same store sales decreased 0.7 percent.
Net income for the quarter was $4.0 million, or $0.18 per diluted share, compared to net income of $6.4 million, or $0.29 per diluted share, for the fourth quarter of 2009.
Big 5 said results for Q4 2010 included a net pre-tax charge of $2.3 million, or $0.07 per diluted share, for lawsuits previously disclosed in the company’s filings with the SEC. 2009 results included a net pre-tax charge of approximately $1.0 million, or $0.03 per diluted share, also related to legal matters.
For full year 2010, net sales increased to $896.8 million from net sales of $895.5 million in 2009. Same-store sales increased 0.8 percent. Net income was $20.6 million, or $0.94 per diluted share, for fiscal 2010, compared to net income of $21.8 million, or $1.01 per diluted share, in fiscal 2009.
For the fiscal 2011 first quarter, the company said it expects same-store sales in the negative low single-digit to positive low single-digit range and earnings per diluted share in the range of $0.15 to $0.22.
Also, the board has approved an increase in the company’s quarterly cash dividend to $0.075 per share of outstanding common stock, for an annual rate of $0.30 per share.
–Compiled by Wendy Geister
For more information about any public company on this page or its financial reports, as well as to view stock prices updated every 15 minutes, visit the SNEWS® Stock Market Updates. Click on: www.outsidebusinessjournal.com/cgi-bin/snews/stock_report.html.