Electronics Boutique Growth Increases 29%

Officials from Electronics Boutique have announced financial results for the company’s second quarter, which ended July 31. During this period total revenue increased 19.8% to $362.0 million, with solid top-line growth driven by a 29% increase in videogame software sales and strong hardware unit sales. Second quarter gross margin, as a percent of sales, improved 250 basis points to 29.5% -- up from 27.0% in the same period last year. Net income increased 132.4% to $3.9 million, or $0.16 per diluted share, exceeding previously announced expectations. This compares to net income of $1.7 million, or $0.07 per diluted share, in the same period last year. During the quarter, the Company opened 117 new stores, increasing the total store count to 1,733. For the first six months of fiscal 2005, total revenue rose 21.3% to $734.4 million, while net income increased 43.1% to $6.9 million, or $0.28 per diluted share. Source: PR Newswire