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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Rande Is who wrote (5762)	4/20/1999 8:45:00 AM
From: Bucky Katt	Read Replies (3) \| Respond to of 57584

Check earnings today on CHRZ & GYM. Now those are really on sale.>> Sport Supply Group Reports Record Quarter EPS Increase of 34% on Higher Sales in Second Fiscal Quarter Represents Tenth Consecutive Quarter of Sales and Earnings Growth Consolidation Strategy and Internet-Commerce Launch Remain on Schedule DALLAS, April 20 /PRNewswire/ -- Sport Supply Group, Inc. (NYSE: GYM - news) today attributed higher sales of baseball products and effective cost control to a 22 percent increase in net income, which resulted in 34% increase in earnings per share (primary) to $0.41 for the second fiscal quarter of 1999. Financial Summary of Operations Second Fiscal Quarter 1999, Six Months and Trailing 12 Months (in millions) except per share data 2nd Fiscal Quarter Six Months Trailing 12 Months 4/2/99 4/3/98 4/2/99 4/3/98 4/2/99 4/3/98 Revenue $35.5 $32.3 $50.3 $46.7 $101.0 $93.1 Operating Income 5.1 3.8 4.2 2.9 8.4 7.3 Net income 3.0 2.5 2.5 2.0 5.5 4.8 Earnings per share Primary 0.41 0.31 0.33 0.24 0.70 0.61 Diluted $0.39 $0.30 $0.32 $0.24 $0.70 $0.61 Shares Outstanding Primary 7.4 8.1 7.5 8.1 7.8 8.0 Diluted 7.8 8.3 7.6 8.3 7.8 8.0 _____________________________________________________________________ April 20, 1999--Computer Horizons (Nasdaq:CHRZ - news) today announced revenues and earnings for its first quarter ended March 31, 1999. Revenues for the first quarter of 1999 increased 24 percent to $138.1 million from $111.5 million last year. Net income for the quarter was $9.5 million, or $0.30 per share (diluted), as compared with $8.6 million, or $0.27 per share (diluted), in last year's first quarter. Net income for the first quarter of 1998 includes merger-related expenses of $1.3 million, or $0.04 per share, after-tax. Excluding the merger-related expense, net income for the first quarter of 1998 was $9.9 million, or $0.31 per share (diluted). In February 1999, Computer Horizons instituted a program to repurchase up to 10 percent of its outstanding common shares. Since initiation of the program, Computer Horizons has repurchased approximately one million shares, or three percent of the Company's outstanding common shares and plans to continue to repurchase additional shares when appropriate. ''1999 is off to a terrific start for Computer Horizons, as we were once again successful in achieving our goals for the quarter and were able to report revenue growth of 24 percent, despite an expected 46 percent decline in Y2K related revenue,'' commented John J. Cassese, Chairman and President. ''Last year, we realigned our business divisions into two separate groups, IT Services and Emerging Practices, in order to facilitate our ability to deliver an integrated suite of service offerings to our customers and to support our objective of becoming a strategic IT partner with these same customers. This quarter, our IT Services group reported revenue growth of 40 percent, while our Emerging Practices group's revenue more than doubled, clearly illustrating to us that this strategy is working.'' Cassese concluded, ''At the same time, we are extremely pleased with the early success we have had in executing our 'Market Leadership' strategy, focused specifically on providing end-to-end e-business and web enablement solutions. Our sales and marketing teams have firmly embraced 'Market Leadership' and during the quarter, we were awarded significant Customer Relationship Management, Program Office and Internetworking contracts, with leading customers in the insurance, banking and financial services markets.''