The Sportsman's Guide Reports That First Quarter 2001 Results Will Exceed Expectations

Management to Report Revenue Increases, Positive Cash Flow, Narrower EPS Loss

And Club Membership Gains



Apr 19, 2001, 01:00 ET from The Sportsman's Guide, Inc.

    SOUTH ST. PAUL, Minn., April 19 /PRNewswire/ --
     The Sportsman's Guide, Inc. (Nasdaq: SGDE) today announced that results of
 the Company's first quarter, ended March 31, 2001, will come in ahead of
 current analyst expectations.  Company officials stated that revenue is
 expected to be approximately $39.0 million, up from the $35.9 million reported
 for the same period one year ago and that the Company's quarterly loss will
 narrow to $(0.04) to $(0.05) per share, compared to a projected loss of
 $(0.08) per share and a loss of $(0.19) per share for the same quarter in
 2000.  In addition, the Company noted that the cash flows provided by
 operating activities were approximately $2.0 million for the quarter, that the
 Buyer's Club membership had increased to 157,000 at quarter end, up 18% over
 the 133,000 reported at December 31, 2000, and that Internet derived sales
 were 20% of total sales, up from 13% for the same quarter one year ago.
     Greg Binkley, President and CEO of the Company stated, "The momentum that
 we reported after the first two months of the year is continuing.  Business
 remains brisk and the operational changes that we initiated in late 2000
 continue to have a positive impact on results.  In addition, the balance sheet
 improvements that were evident at December 31, 2000 have continued, as
 inventory and bank borrowings have seen further reductions since year-end.
 Inventory levels are approximately $19.0 million, compared to nearly
 $34 million one year ago and inventory content has improved substantially as a
 result of aggressive pricing of aged inventory.  At quarter end, bank
 borrowings were just under $2.0 million, compared to $17.0 million last year.
 We look forward to reporting the results of the quarter in greater detail in
 early to mid May."
     Earlier this year, Company officials expressed comfort with revenue
 estimates for the twelve months ended December 31, 2001 of $142.5 million,
 earnings estimates of $0.20 - $0.25 per share and Buyer's Club membership
 estimates of 200,000.  Management also concurred with the analyst view that
 revenue derived from the Internet could approach 25 percent of total revenue
 going forward.
     The Sportsman's Guide offers value-priced outdoor gear and general
 merchandise, with a special emphasis on outdoor clothing, equipment and
 footwear, through direct mail catalogs and two Internet sites.   The Company's
 websites include http://www.sportsmansguide.com and
 http://www.bargainoutfitters.com
     This release contains forward looking statements which are subject to
 change based on various important factors, including but not limited to
 general economic conditions, a changing market environment for the Company's
 products and the market acceptance of the Company's catalogs.
 
     For more information, contact William P. Bartkowski of BlueFire Partners,
 612-344-1012, for The Sportsman's Guide, Inc.
 
 

SOURCE The Sportsman's Guide, Inc.
    SOUTH ST. PAUL, Minn., April 19 /PRNewswire/ --
     The Sportsman's Guide, Inc. (Nasdaq: SGDE) today announced that results of
 the Company's first quarter, ended March 31, 2001, will come in ahead of
 current analyst expectations.  Company officials stated that revenue is
 expected to be approximately $39.0 million, up from the $35.9 million reported
 for the same period one year ago and that the Company's quarterly loss will
 narrow to $(0.04) to $(0.05) per share, compared to a projected loss of
 $(0.08) per share and a loss of $(0.19) per share for the same quarter in
 2000.  In addition, the Company noted that the cash flows provided by
 operating activities were approximately $2.0 million for the quarter, that the
 Buyer's Club membership had increased to 157,000 at quarter end, up 18% over
 the 133,000 reported at December 31, 2000, and that Internet derived sales
 were 20% of total sales, up from 13% for the same quarter one year ago.
     Greg Binkley, President and CEO of the Company stated, "The momentum that
 we reported after the first two months of the year is continuing.  Business
 remains brisk and the operational changes that we initiated in late 2000
 continue to have a positive impact on results.  In addition, the balance sheet
 improvements that were evident at December 31, 2000 have continued, as
 inventory and bank borrowings have seen further reductions since year-end.
 Inventory levels are approximately $19.0 million, compared to nearly
 $34 million one year ago and inventory content has improved substantially as a
 result of aggressive pricing of aged inventory.  At quarter end, bank
 borrowings were just under $2.0 million, compared to $17.0 million last year.
 We look forward to reporting the results of the quarter in greater detail in
 early to mid May."
     Earlier this year, Company officials expressed comfort with revenue
 estimates for the twelve months ended December 31, 2001 of $142.5 million,
 earnings estimates of $0.20 - $0.25 per share and Buyer's Club membership
 estimates of 200,000.  Management also concurred with the analyst view that
 revenue derived from the Internet could approach 25 percent of total revenue
 going forward.
     The Sportsman's Guide offers value-priced outdoor gear and general
 merchandise, with a special emphasis on outdoor clothing, equipment and
 footwear, through direct mail catalogs and two Internet sites.   The Company's
 websites include http://www.sportsmansguide.com and
 http://www.bargainoutfitters.com
     This release contains forward looking statements which are subject to
 change based on various important factors, including but not limited to
 general economic conditions, a changing market environment for the Company's
 products and the market acceptance of the Company's catalogs.
 
     For more information, contact William P. Bartkowski of BlueFire Partners,
 612-344-1012, for The Sportsman's Guide, Inc.
 
 SOURCE  The Sportsman's Guide, Inc.