Print
Email
Dover Saddlery Inc. (DOVR) filed Quarterly Report for the period ended 2011-09-30.
Dover Saddlery Inc. has a market cap of $19.57 million; its shares were traded at around $3.7 with a P/E ratio of 9.49 and P/S ratio of 0.25.
This is the annual revenues and earnings per share of DOVR over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of DOVR.
Highlight of Business Operations:
Total revenues increased $0.9 million, or 4.8%, to $19.5 million for the three months ended September 30, 2011 from $18.6 million for the three months ended September 30, 2010. During the period, revenues in our direct market channel decreased $0.3 million, or 2.8%, to $11.3 million. Revenues in our retail market channel increased $1.2 million, or 17.6%, from the corresponding period in 2010 to $8.2 million. The decrease in our direct market channel was due to weakness in consumer spending in this channel. The increase in revenues from our retail market channel was due to strong sales growth from our newer stores as they mature, an additional retail store and promotions. Same store sales for the three-month period increased 9.9% over the prior year.Total revenues increased $2.3 million, or 4.3%, to $57.0 million for the nine months ended September 30, 2011 from $54.7 million for the nine months ended September 30, 2010. Revenues in our direct market channel decreased $0.7 million, or 1.9%, to $35.6 million from $36.3 million in the corresponding period in 2010. Revenues in our retail market channel increased $3.0 million, or 16.4%, to $21.5 million from $18.4 million in 2010. The decrease in our direct market channel was due to weakness in consumer spending in this channel. The increase in revenues from our retail market channel was due to strong sales growth from our newer stores as they mature, an additional retail store and promotions. Same store sales for the nine month period increased 12.8% over the prior year.
Gross profit for the nine months ended September 30, 2011 increased $1.1 million, or 5.5%, to $21.5 million from $20.4 million for the corresponding period in 2010. Gross profit, as a percentage of revenues, for the nine months ended September 30, 2011 increased 0.4% to 37.7% from 37.3% for the corresponding period in 2010. The increase in gross profit of $1.1 million was attributable to increased revenues in the retail channel and improved product margins. The increase in gross profit as a percentage of revenues was attributable to variations in our overall product mix.
Selling, general and administrative expenses increased $0.7 million, or 4.0%, for the nine months ended September 30, 2011 to $19.0 million from $18.3 million for the corresponding period in 2010. Increased marketing costs of $336,000 and labor costs of $168,000 were the primary causes for this increase in SG&A expenses. SG&A expenses, as a percentage of revenues, were reduced to slightly to 33.3% of revenues from 33.4% of revenues for the corresponding period in 2010.
The net income for the nine months ended September 30, 2011 increased $87,000 or 8.8%, to $1,084,000 from $997,000 for the corresponding period in 2010. This increase in profitability of $87,000 was due primarily to increased revenues and improved gross margin. The resulting income per diluted share increased to $0.20 for the nine months ended September 30, 2011 as compared to $0.18 for the corresponding period in 2010.
Subscribe RSS
