Golf Galaxy Provides Guidance for Fiscal 2007
28 Março 2006 - 8:50PM
PR Newswire (US)
EDEN PRAIRIE, Minn., March 28 /PRNewswire-FirstCall/ -- Golf
Galaxy, Inc. (NASDAQ:GGXY), a leading golf specialty retailer,
today provided its fiscal 2007 outlook, which includes the impact
of its recent acquisition of The GolfWorks. (Logo:
http://www.newscom.com/cgi-bin/prnh/20050728/CGTH081LOGO ) Golf
Galaxy said that for its fiscal year ending March 3, 2007, a
53-week period: -- Net sales are currently expected to be $305
million to $315 million; -- Comparable store sales are currently
expected to increase 6 percent to 8 percent over the prior year;
and -- Net income is currently expected to be $7.5 million to $8.1
million (pending the final purchase price allocation of The
GolfWorks acquisition); assuming 11.6 million weighted average
shares outstanding, diluted earnings per share are expected to be
65 cents to 70 cents. The company plans to report its fourth
quarter and fiscal 2006 financial results on April 18, 2006, and
will provide additional commentary about its fiscal 2007 outlook at
that time. About Golf Galaxy, Inc. Golf Galaxy, Inc., based in Eden
Prairie, Minn., owns and operates golf specialty retail stores. The
company currently operates 54 stores in 23 states and an ecommerce
website. The company's Everything for the Game(R) merchandising
strategy offers a comprehensive selection of competitively priced
brand name golf equipment, accessories, apparel, golf services, and
golf instruction by on-staff certified PGA professionals in a
unique interactive store environment. The GolfWorks, the golf
industry's most complete source for golf club components,
clubmaking tools and supplies, and technical information, is a
wholly owned subsidiary of Golf Galaxy that sells direct to
consumers via a catalog and the Internet at
http://www.golfworks.com/ . For more information, visit
http://www.golfgalaxy.com/ . Cautionary Statement This news release
contains forward-looking statements about Golf Galaxy and readers
should not place undue reliance on any forward-looking statements
that are current only as of the date made. These forward-looking
statements are subject to certain risks and uncertainties that
could cause actual results to differ materially from historical
results or those expressed in forward- looking statements. The
factors listed below, among others, could cause the company's
actual financial performance to differ materially from that
expressed in any forward-looking statement: A decline in the
popularity of golf or golf-related products and services;
limitations imposed by suppliers on the amount or variety of
products; failure by suppliers to develop and introduce new
products or if new products result in excessive close-outs of
existing inventories; seasonal fluctuation in demand for products;
weather conditions; ability to successfully implement growth plan;
competition in the golf and sporting goods industry; a decline in
discretionary spending; availability of adequate capital to fund
growth; and loss of key management. Additional information
concerning these and other factors that could cause actual results
to differ materially from those in the forward-looking statements
is included in the company's prospectus in its Form S-1
Registration Statement on file with the Securities and Exchange
Commission. The foregoing list should not be construed as
exhaustive and Golf Galaxy disclaims any obligation subsequently to
revise or update any previously made forward-looking statements,
whether as a result of new information, future events or otherwise.
Contact: Investors: Rick Nordvold Golf Galaxy, Inc. 952-941-8848
Investors and media: Susan Eich For Golf Galaxy, Inc. 612-285-4188
http://www.newscom.com/cgi-bin/prnh/20050728/CGTH081LOGO
http://photoarchive.ap.org/ DATASOURCE: Golf Galaxy, Inc. CONTACT:
Investors, Rick Nordvold of Golf Galaxy, Inc., +1-952-941-8848, or
Investors and media, Susan Eich, for Golf Galaxy, Inc.,
+1-612-285-4188 Web site: http://www.golfgalaxy.com/
http://www.golfworks.com/
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