Dreams Expects Record 2011 Revenues of $141.7 Million, up 27%
12 Marzo 2012 - 6:30AM
Business Wire
Dreams, Inc. (NYSE Amex: DRJ), a technology driven,
multi-channel retailer focused on the licensed sports products
industry, reported preliminary revenues for the year ended December
31, 2011. The company has also provided its revenue outlook for the
full year 2012.
Based on preliminary unaudited information, for the year ended
December 31, 2011, Dreams expects to report total revenues of
$141.7 million, increasing 27% from $111.4 million in 2010. Dreams
also expects to report e-commerce revenues of $113.0 million, up
33% from $84.7 million in 2010.
The increase in revenues was supported by the continued growth
in Dreams’ e-commerce platform, led by www.FansEdge.com, as well as
the company’s web syndication business.
“These preliminary record revenue results are a true testament
to our fully integrated e-commerce platform driving additional
market share in the team licensed sports products industry,” said
Ross Tannenbaum, president and CEO of Dreams. “The proactive
investments we made in our human capital over the past two years
have also supported this year’s double-digit revenue growth. We
have achieved significant organic growth from our web syndication
partners as they fully integrate into our system and realize a
greater revenue stream as a result our proprietary and customizable
technology.
“As we progress through 2012, we expect sustained organic growth
that will be driven by our flagship FansEdge brand and our robust
pipeline of potential web syndication partners. We look forward to
providing our complete 2011 results and will give additional
clarity on what we believe are the important metrics to value our
company.”
Management will provide complete results in its fourth quarter
and full year 2011 earnings press release and conference call,
which will be announced at a later date.
2012 Outlook
Dreams expects fiscal year 2012 total revenues to be $175
million with $147 million attributed to the company’s e-commerce
channel.
About Dreams, Inc.
Dreams, Inc. (NYSE Amex: DRJ) is a technology driven,
multi-channel retailer focused on the sports licensed products
industry. For more information, please visit
www.DreamsCorp.com.
Forward Looking Statements
Statements contained in this press release, which are not
historical facts, are forward-looking statements. The
forward-looking statements in this press release are made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements involve known
and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of the company to
be materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such statements are indicated by words or phrases such
as “anticipates,” “projects,” “management believes,” “Dreams
believes,” “intends,” “expects,” and similar words or phrases. Such
factors include, among others, the following: competition;
seasonality; success of operating initiatives; new product
development and introduction schedules; acceptance of new product
offerings; franchise sales; advertising and promotional efforts;
adverse publicity; expansion of the franchise chain; availability,
locations and terms of sites for franchise development; changes in
business strategy or development plans; availability and terms of
capital including the continuing availability of our credit
facility with PNC Bank or a similar facility with another financial
institution; labor and employee benefit costs; changes in
government regulations; and other factors particular to the
company.
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