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 Breaking Headlines

Golf Galaxy 2Q Revenues Up 47% On 7.4% Comp-Gain

SEPTEMBER 22, 2005 -- Golf Galaxy 2Q net sales increased 46.5% to $69.6 million. The company reported net income for the to net income of $3.5 million, or 46¢ per diluted share on a GAAP basis. Giving effect to the conversion of preferred shares and the company's IPO as of the beginning of each period presented, pro-forma diluted 2Q EPS increased 48.5% to 49¢, compared to pro-forma diluted EPS of 33¢.

Comp-store sales increased 7.4% for 2Q06 compared to an increase of 5.9% for 2Q05.

Net sales for the six months increased 49.1% to $128.2 million, compared to $86.0 million. Golf Galaxy reported net income of $7.1 million, or 83¢ on a GAAP basis, compared to net income of $4.6 million, or 60¢ cents per diluted share on a GAAP basis. Pro-forma diluted EPS for 1H06 increased 48.8% to 64¢, compared to 43¢. Comp-store sales increased 8.8% in 1H06, compared to an increase of 6.6% in the same period of FY05.


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