This stock took off today on the following announcement:
Friday May 15, 9:37 am Eastern Time
Pivot Rules to launch internet retailing
NEW YORK, May 15 (Reuters) - Pivot Rules Inc said Friday that it plans to pursue a major presence in online commerce with the creation of a new independent division that will market discounted brand name apparel.
The, as yet, unnamed division will design and launch an Internet-based retail store to sell brand name, first-quality, end-of-season and excess merchandise directly to consumers.
Contact Info:
42 West 39th Street
New York, NY 10018
Phone: (212) 944-8000
Industry: Apparel/Accessories
Sector: Consumer Cyclical
Employees: 9
Officers: E. Kenneth Seiff, Chmn./Pres./CEO/Treas.
William T. McLoone, Exec. VP
Meena N. Bhatia, CFO
David Lewis, VP.
Business Summary
Pivot Rules, Inc. designs, sources and markets a full collection of golf lifestyle sportswear for men under the Pivot Rules brand name. The Company's products include knit and woven shirts, sweaters, sweatshirts, pants, shorts, outerwear, hats and socks. For the nine months ended 9/30/97, net sales increased 64% to $6.4 million. Net loss increased 81% to $664 thousand. Revenues reflect increased unit volumes from new customers. Loss reflects increased advertising expenses.
Recent Earnings Announcement
For the quarter ended DEC 1997, revenues were 3,904; after tax earnings were 283. (preliminary; reported in thousands of dollars)
Share-Related Information
Market Capitalization: $5.40M
Shares Outstanding: 2.70M
Float: 1.50M
Annual Dividend: none
Book Value (mrq): $2.14
Earnings (ttm): -$0.21
Sales (ttm): $4.74
Cash (mrq): $0.96
Yahoo:
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