Sport Supply shares climb; co. sees 4Q profit above mean analysts' view
BOSTON, Jul 21, 2008 (Thomson Financial via COMTEX) -- By Staff Reporter
Company: Sport Supply Group, Inc. (RBI)
Shares of Sport Supply Group Inc. jumped Monday after the Dallas-based sporting goods manufacturer said it expects fourth-quarter earnings to exceed Wall Street's expectations.
The stock was last up 3.8% at $10.60 on heavy volume of 116,592 shares. The issue's 30-day average is about 21,300.
Sport Supply said preliminary fourth-quarter results appear "significantly higher" than the year-ago period and as much as double current analysts' consensus estimate of 8 cents per share.
Given the apparent strength of the fourth quarter, Sport Supply raised its outlook for fiscal 2008 to earnings of between 75 and 77 cents a share from its previous view for a profit of 65 to 73 cents a share. The company also said it expects earnings of 85 to 95 cents a share for fiscal 2009.
Analysts polled by Thomson Reuters, on average, currently expect a 2008 profit of 71 cents a share and a 2009 profit of 80 cents a share. Casey Logan cl/mb
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Company: Sport Supply Group, Inc. (RBI)
Related terms: earnings, manufacturer, profit
