EPS of $0.19 for Q4 1997!! Stock up $0.95 for the day so far!! Here's the press release for Q4 and year-end results:
Bow Flex Inc
BFX
Shares issued 8971541
1998-02-27 close $6.6
Monday Mar 2 1998
Mr Brian Cook reports
Bow Flex had a strong finish to its fiscal year ended December 31 1997. Sales
reached $28.4 million, improving 144% from $11.7 million in 1996. Net income
increased to $3.6 million, or $0.38 per share, up 210% from $1.2 million, or
$0.13 per share, for the year.
Fourth quarter sales more than doubled to $10.4 million from $3.3 million and net
income increased to $1.8 million, or $0.19 per share, more than 550% above
$259,000, or $0.03 per share, reported in the 1996 fourth quarter.
The company intends to diversify the line of products it markets directly to
consumers in 1998. The signature Bow Flex home fitness equipment will provide a
strong base from which to extend the business and maximize the company's
potential in the direct marketing industry. Bow Flex intends to continue penetrating
the market for home fitness equipment sales while repeating the success it has
achieved with its current product line with new, quality products that offer
additional growth opportunities.
The company's balance sheet is considerably stronger than it was at the end of
1996. Cash and cash equivalents for the year ended December 31 1997
increased to $6.9 million, 300% above the year ago period. Bow Flex, which has
no long term debt, has access to a $1 million line of credit which remains unused.
FINANCIAL HIGHLIGHTS
Three months ended December 31
1997 1996
Sales $10,369,541 $3,270,460
Gross profit 7,615,914 2,271,445
Operating income 2,603,346 129,126
Net income $1,808,492 $259,356
Earnings per
share $0.19 $0.03
FINANCIAL HIGHLIGHTS
Twelve months ended December 31
1997 1996
Sales $28,408,886 $11,664,313
Gross profit 21,124,495 8,099,632
Operating income 5,379,277 946,450
Net income $1,808,492 $259,356
Earnings per
share $0.38 $0.13 |
