February 22, 2008
Cabela's Incorporated, the World's Foremost Outfitter(R) of hunting, fishing and outdoor gear, reported financial results for its fourth fiscal quarter and fiscal year ended December 29, 2007.
Total revenue for the fourth fiscal quarter of 2007 increased 13.9% to $889.5 million compared to $781.0 million for the fourth fiscal quarter of 2006. Net income for the fourth fiscal quarter of 2007 increased 5.4% to $56.2 million, or $0.84 per diluted share, compared to $53.4 million, or $0.80 per diluted share, for the fourth fiscal quarter of 2006.
Fourth quarter fiscal 2007 retail store revenue increased 31.8% to $401.8 million with a same store sales decrease of 5.9%; direct revenue increased 3.3% to $446.9 million; and financial services revenue decreased 1.7% to $37.8 million.
"These results are in line with the expectations we pre-announced on January 29th," said Dennis Highby, Cabela's President and Chief Executive Officer. "We are implementing a number of strategic initiatives aimed at improving profitability and are committed to taking the necessary steps to further build our business."
Total revenue for fiscal 2007 increased 13.9% to a Company record of $2.35 billion compared to $2.06 billion in fiscal 2006. Net income for fiscal 2007 increased 2.4% to $87.9 million compared to $85.8 million for fiscal 2006. Earnings per share increased 1.6% to $1.31 per diluted share compared to $1.29 per diluted share for fiscal 2006.
Each of the Company's three main business segments grew in fiscal 2007 compared to fiscal 2006. Retail store revenue increased 27.2% to $1.04 billion with a same store sales decrease of 1.2%; direct revenue increased 3.9% to $1.13 billion; and financial services revenue increased 15.9% to $159.3 million.
Cabela's Incorporated
Source @ Fibre2fashion
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