LITTLETON, MA--(Marketwire - Feb 5, 2013) - Dover Saddlery, Inc. (NASDAQ: DOVR), the leading multichannel retailer of equestrian products, today announced that preliminary unaudited revenues for the fourth quarter ended December 31, 2012 exceeded revenues in the fourth quarter of 2011 by 11.0%, increasing to approximately $26.4 million. Revenues from the retail channel increased 16.7% to approximately $10.5 million and revenues from the direct channel increased 7.6% to approximately $15.9 million.
"We are very pleased that our new seasonal promotions in the fourth quarter of 2012 yielded such strong results, particularly in light of the challenging retail environment In addition, enhancements we made to our online channel throughout the year produced impressive results for the direct channel in the fourth quarter," said Stephen L. Day, president and CEO of Dover Saddlery. "The sales numbers presented are preliminary, and we will be reporting the audited fourth quarter and full year 2012 results on or about March 26, 2013."
About Dover Saddlery, Inc.
Dover Saddlery, Inc. (NASDAQ: DOVR) is the leading multichannel retailer of equestrian products in the United States. Founded in 1975 in Wellesley, Massachusetts, by United States Equestrian team members, Dover Saddlery has grown to become The Source® for equestrian products. Dover offers a broad and distinctive selection of competitively priced, brand-name products for horse and rider through catalogs, the Internet and company-owned retail stores. Dover Saddlery, Inc. serves the English rider and, through Smith Brothers, the Western rider. The Source®, Dover Saddlery® and Smith Brothers® are registered marks of Dover Saddlery.
For more information, please call 1-978-952-8062 or visit www.DoverSaddlery.com.
This press release includes "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including without limitation statements made about the Company's business outlook, the prospects for overall revenue growth, variations in consumer demand, gross margins and profitability, and the opening of new stores. All statements other than statements of historical fact included in this press release regarding the Company's strategies, plans, objectives, expectations, and future operating results are forward-looking statements. Although Dover believes that the expectations reflected in such forward-looking statements are reasonable at this time, it can give no assurance that such expectations will prove to have been correct. These forward-looking statements involve significant risks and uncertainties, including those discussed in this release and others that can be found in "Item 1A Risk Factors" of Dover Saddler's Annual Report on Form 10-K for the fiscal year ended December 31, 2011. Dover Saddlery is providing this information as of this date and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise. No forward-looking statement can be guaranteed and actual results may differ materially from those Dover Saddlery projects.