Brass Eagle 3Q Shows Decreased Sales
by October 29, 2001 12:00 am 60 views
Brass Eagle Inc. of Bentonville — which makes, markets and distributes paintball products — said sales in the third quarter, which ended Sept. 30, decreased from the same time last year.
In a “pre-announcement” of its earnings, Brass Eagle said net sales for the third quarter were about $15.6 million, compared with $23.1 million for the same period last year.
The company said it expects to report a diluted earnings per share loss of 6 cents for the third quarter compared with diluted earnings per share of 27 cents for the third quarter last year. Brass Eagle said it will report actual results Nov. 8.
“We remained approximately on plan through August. However, the slowdown in consumer purchases and the events of Sept. 11, like many others, has significantly impacted our business,” Lynn Scott, Brass Eagle president and CEO, said. “This has resulted in retailers more tightly controlling inventories going into the holiday season. As a result, we believe it is necessary to adopt a more conservative outlook with regard to the remainder of the fiscal year.”
Brass Eagle now expects fiscal year 2001 sales to range from $85 million to $95 million. The company also expects fiscal 2001 diluted earnings per share to range from 60 cents to 85 cents.