ST. PAUL, Minn. — Gander Mountain Company (NASDAQ:GMTN) has announced preliminary results for the fiscal fourth quarter ended January 31, 2009.
Highlights:
- Record Retail segment fourth quarter net income of approximately $23 million compared to net income of $7 million for the fourth quarter of fiscal 2007.
- Record cash flows provided by operating activities of approximately $108 million in the fourth quarter.
- Retail segment comparable store sales for the quarter of (0.2) percent, and a positive 2.7 percent excluding the sales of boats and ATVs and power sports services.
- Consolidated fourth quarter net income of approximately $20 million, after absorbing a loss of approximately $3.5 million from the new and expanding Direct segment.
- Reduction of total debt by approximately $38 million in fiscal 2008. Based on unaudited preliminary results: The company expects record fiscal 2008 fourth quarter consolidated sales of approximately $333 million compared to consolidated sales of $318 million for the fourth quarter of fiscal 2007, a 4.9 percent increase.
