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Performance Sports Group (TSX:PSG) (NYSE:PSG) announced results for the quarter and year ended May 31, 2015

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Revenues in the fiscal fourth quarter of 2015 increased 38% to a record $156.1 million compared to $112.9 million in the same year-ago quarter. Adjusting for the impact of foreign currency, revenues were still up a record $147.6 million, up 31%. Adjusted Net Income in the fourth quarter increased 46% to $15.0 million or $0.32 per diluted share, compared to $10.3 million or $0.27 per diluted share in the year-ago quarter.

Additional Information:

Company: Performance Sports Group
Website: http://www.performancesportsgroup.com/
Stock Symbol: TSX:PSG
Date Published: Aug 27, 2015
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Performance Sports Group (TSX:PSG) (NYSE:PSG) announced results for the quarter and year ended May 31, 2015

Revenues in the fiscal fourth quarter of 2015 increased 38% to a record $156.1 million compared to $112.9 million in the same year-ago quarter. Adjusting for the impact of foreign currency, revenues were still up a record $147.6 million, up 31%.

Adjusted Net Income in the fourth quarter increased 46% to $15.0 million or $0.32 per diluted share, compared to $10.3 million or $0.27 per diluted share in the year-ago quarter.

Excluding the $0.09 per diluted share gain from an intellectual property litigation settlement in the fourth quarter of the previous year, Adjusted Net Income increased 114%, while Adjusted Earnings Per Share increased 78%.

Performance Sports Group is a leading developer and manufacturer of ice hockey, roller hockey, lacrosse, baseball and softball sports equipment, as well as related apparel and soccer apparel.

The Company is the global leader in hockey with the strongest and most recognized brand, and it holds the No. 1 North American position in baseball and softball.

Its products are marketed under the BAUER, MISSION, MAVERIK, CASCADE, INARIA, COMBAT and EASTON brand names and are distributed by sales representatives and independent distributors throughout the world.

Kevin Davis, CEO, stated: “Our fourth quarter and full year revenue results were record-setting and contributed to market share gains in all of the sports we serve. In fact, currency neutral hockey revenues grew 13% for the year, improving our estimated global equipment market share from 54% to 56%. Our Maverik Lacrosse revenues grew 28% in fiscal 2015, improving our estimated total equipment market share from 26% to 28%. Our baseball business, led by EASTON, had a record-setting year driven by solid demand for the MAKO family of products.”

The company trades at $16.50, and with 45.6 million shares outstanding, the company is capitalized at $752 million.

For more information, please visit the company’s website www.performancesportsgroup.com, or Amir Rosenthal, CFO, at 603-610-5802 or email investors@performancesportsgroup.com.
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Investor relations is handled by Cody Slach of Liolios Group, who can be reached at 949-574-3860 or email PSG@liolios.com.
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I’m Samantha Deutscher for Investmentpitch Media