DENVER, Aug. 5 /PRNewswire-FirstCall/ -- Ultimate Electronics, Inc.
(Nasdaq: ULTE) today announced its sales results for the quarter ended
July 31, 2004.
Sales for the quarter ended July 31, 2004 were approximately
$152.9 million, a decrease of less than 1% from $154.2 million for the same
period in the previous year. Comparable store sales were down approximately
9% for the quarter ended July 31, 2004.
Reported sales numbers are preliminary and subject to adjustment.
Ultimate Electronics is scheduled to release its second quarter earnings
results on the morning of Thursday, August 26, 2004 and to hold a conference
call at 11:00 a.m. Eastern Time on August 26, 2004 to discuss second quarter
results.
The statements made in this news release, other than those concerning
historical financial information, are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are made based upon management's current
expectations and beliefs concerning future developments and their potential
effects upon the company. These forward-looking statements include statements
regarding sales for the second quarter and the timing of the company's
earnings release. Actual results may differ materially from those included in
the forward-looking statements due to a number of factors, including, but not
limited to: risks associated with the operation of the company's new
management information system; changes in personnel; terrorism and acts of
war; and other risks identified in the company's Annual Report on Form 10-K
for the fiscal year ended January 31, 2004, filed with the Securities and
Exchange Commission on April 16, 2004. There can be no assurance that future
developments affecting the company will be those anticipated by management.
The company disclaims any obligation to update or revise any of the
forward-looking statements that are in this news release.
About Ultimate Electronics, Inc. (Nasdaq: ULTE)
Ultimate Electronics is a leading specialty retailer of home entertainment
and consumer electronics products in 14 states. The company operates
65 stores, including 54 stores in Arizona, Idaho, Illinois, Iowa, Kansas,
Minnesota, Missouri, Nevada, New Mexico, Oklahoma, South Dakota, Texas and
Utah under the trade name Ultimate Electronics(R) and 11 stores in Colorado
under the trade name SoundTrack(R). In addition, the company operates Fast
Trak Inc., an independent electronics repair company and a wholly owned
subsidiary of Ultimate Electronics. During the past two years, the company
received numerous industry awards including Audio Video International's 2003
"Top 10 Audio/Video Retailer of the Year."
For further information, please contact David A. Carter, Chief Financial
Officer of Ultimate Electronics, Inc., +1-303-801-4025.
SOURCE Ultimate Electronics, Inc.
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Company News On-Call:
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CONTACT:
David A. Carter, Chief Financial Officer of
Ultimate Electronics, Inc., +1-303-801-4025
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