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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: quote.yahoo.com Any shareholders? | ||||||||||||||
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