Good Sam Reports Higher Sales, Income in 3Q

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November 15, 2012 by   Comments Off on Good Sam Reports Higher Sales, Income in 3Q

Good Sam Enterprises LLC reported improved sales and earnings results for the third quarter, ended Sept. 30.

Revenues of $139.6 million for the third quarter of 2012 increased $11 million, or 8.6%, from the comparable period in 2011, the company reported.

Net income in the quarter was $3.3 million compared to $2 million for the same period in 2011. Good Sam’s financials do not reflect rolling stock sales from the company’s Camping World Inc. unit.

Membership services revenues of $38.7 million for the quarter decreased $0.4 million, or 1.1%, from the comparable period in 2011. This revenue decrease was largely attributable to a $1.7 million decrease in member events revenue due to the timing of annual member rallies and a $1 million decrease in revenue resulting from merging the President’s Club into the Good Sam Club. These were partially offset by a $2 million revenue increase from extended vehicle warranty programs and a $0.3 million increase in emergency road service revenue.

Retail revenues of $95.4 million for the quarter increased by $13.2 million, or 16.1%, from the comparable period in 2011. Aftermarket parts and accessories store merchandise sales increased $10.9 million due to a same store sales increase of $5.4 million coupled with a $6.1 million increase due to the opening of 16 new Camping World stores over the last 21 months.

Media revenues were down 24.1% to $5.5 million for the quarter from the comparable period in 2011. This decrease was primarily attributable to a $0.7 million reduction in consumer show revenue, a $0.6 million reduction resulting from the sale or closure of non-core media businesses in 2011, and a $0.5 million reduction in magazine revenue.

Two stores were closed in the last 21 months in order to consolidate operations within specific geographic areas. Also, mail order and Internet sales increased $3.8 million, installation and service fees decreased $1.2 million, and supplies and other revenue decreased $0.3 million.

To view the entire report click here.


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