![]() Early in the season cold weather categories did not perform to expectations.īut we also felt the impact of management decisions during the quarter, in particular we made a deliberate decision to reduce our advertising spend out of conviction that given consumer confidence and the economic impact of our discretionary spending, incremental media investment would not produce a meaningful return in additional sales. Traditionally strong merchandise categories for Gander Mountain like firearms, hunting products were negative for the period as was apparel. Our comparable sales performance in the quarter of minus $11.9 was certainly due in part to the economic conditions that pressured consumer spending and affected nearly every retailer in the November to January period. While these results are disappointing versus the fourth quarter of last year, Gander Mountain did earn $7 million before absorbing $1.2 million in seasonal losses at our Overton’s acquisition. Net income also fell 62% to $5.8 million. Adjusted EBITDA was $23.8 million, a decline of 31%. In the quarter that is traditionally the strength of our business sales declined 2.8%, to $318 million. ![]() The economic and business trends we identified in the third quarter and into the fourth have produced results for the quarter and the year that were disappointing to all of us at Gander Mountain. ![]() Let me begin with a frank assessment of these results. The reconciliation and other information required to be disclosed about non-GAAP measures, including adjusted EBITDA discussed during this call, is available on the 8-K we filed today and at the Investor Relations page of under the Financial Information tab. We caution you that forward-looking statements reflect our current views with respect to future events and speak only as of the time they are made and we undertake no obligation to update them in light of new information or future events. These reports are available at the Investor Relations section of our website at and at the SEC’s website at sec.gov. Our actual results could differ materially from those projected in any forward-looking statement.Īdditional information concerning important factors that could cause our actual results to differ materially from these forward-looking statements are described in the Risks and Factors Affecting Current and Future Results section of our annual report on Form 10-K as filed with the Securities and Exchange Commission as well as in our subsequent reports filed with the SEC. Please remember that our discussion today may include forward-looking statements relating to our estimates and expectations that involve risks and uncertainties. The transcript of this call will be posted under archives in the Investor Relations section of our website. We will also offer an Internet replay of the call, which will be available shortly after the call is concluded and will remain on our website for approximately 90 days. This conference call is being broadcast real-time on the Internet at. As a reminder, the question-and-answer period is available to all interested parties, although questions will be limited to investors and analysts. We expect the call to last about an hour. Mark will discuss business trends, Rick will review our merchandise initiatives and Bob will review our financial results. ![]() Joining us on our call today are Mark Baker, President and CEO of Gander Mountain Rick Vazquez, Executive Vice President of Merchandising and Marketing and Bob Vold, Senior Vice President and Chief Financial Officer. Welcome to the Gander Mountain fourth quarter 2007 conference call. (Operator Instructions) I’ll turn the conference over to Mr. Welcome to the Gander Mountain Company fourth quarter earnings release conference call. Vold - Senior Vice President, Chief Financial Officer and Treasurer Vazquez - Executive Vice President, Merchandising and Marketing Baker - Chief Executive Officer and President Gander Mountain Company ( GMTN) F4Q07 Earnings Call Transcript Ap9:00 AM ET
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