Re: [Epic] Epic rumours

From: William Rood <wrood_at_...>
Date: Wed, 20 May 1998 10:30:49 -0400

I know I'll bore most of you with this, but here is the current Industry
report on GamesWorkshop (US) Inc.

The important figures to look at are Net Sales (11.48 Million $US) , Gross
Profit (6.24 Million $US), and Net profit after Tax (1.51 Million $US). This
is down from all of their previous years. GW is hurting. And the
interesting thing - the industry analysts state only one reason : they are
targeting the wrong audience.

They are focusing on 12-14 year old males who will only maintain the hobby
for a few years. The analysts state they should be focusing on the 18-35
crowd who are not looking for a passing fade, but a serious hobby, and have
the income to spend.

I hope this was of some interest, and may explain the recent rash of sales,
failed product lines, etc. al.

Regards,

--
// William Rood - Systems Development
// Dow Jones and Company, Inc.
-------------------------------------------------------------------
LAST INDUSTRY UPDATE: 04/04/98
DATE PRINTED: 05/20/1998
INFO:
STARTED 1984
EMPLOYEES: 190
GAMES WORKSHOP (US), INC
6721 BAYMEADOW DRIVE
GLEN BURNIE
MD 21060
INDUSTRY ASSETS  OVER 1 MIL. (NO GEO)
                           FISCAL      05/31/96        106 FIRMS
                                       % CHANGE  SUBJECT   IND %
                                                    %
  CASH..................    2,418,361    312.6     43.5      9.2
  ACCOUNTS RECEIVABLE...      222,561   ( 66.3)     4.0     27.8
  NOTES RECEIVABLE......        -----      ---      ---      0.6
  INVENTORY.............    1,258,346     20.3     22.6     39.4
  OTHER CURRENT......... (     68,111)     ---   (  1.2)     6.4
  TOTAL CURRENT.........    3,831,157     66.0     68.9     83.4
  FIXED ASSETS..........      334,104     99.0      6.0     11.0
  OTHER NON-CURRENT.....    1,393,086    113.8     25.1      5.6
  TOTAL ASSETS..........    5,558,347     77.7    100.0    100.0
  ACCOUNTS PAYABLE......       51,779   ( 60.9)     0.9     25.6
  BANK LOANS............        -----      ---      ---      ---
  NOTES PAYABLE.........        -----      ---      ---      8.2
  OTHER CURRENT.........      375,719   ( 21.2)     6.8     16.8
  TOTAL CURRENT.........      427,498   ( 29.9)     7.7     50.6
  OTHER LONG TERM.......        -----      ---      ---      7.0
  DEFERRED CREDITS......        -----      ---      ---      ---
  NET WORTH.............    5,130,849    113.2     92.3     42.4
  TOTAL LIABIL & WORTH..    5,558,347     77.7    100.0    100.0
  NET SALES.............   11,480,079      ---    100.0    100.0
  GROSS PROFIT..........    6,252,593      ---     54.5     26.9
  NET PROFIT AFTER TAX..    1,511,380      ---     13.2      3.6
  DIVIDENDS/WITHDRAWALS.        -----      ---      ---      2.3
  WORKING CAPITAL.......    3,403,659    100.4      ---      ---

Received on Wed May 20 1998 - 14:30:49 UTC