Publicly-traded purveyor of sports memorabilia and fan products Dreams, Inc. is hoping to battle its way out of the loss column.
Dreams Inc., parent company of autograph purveyors Mounted Memories, ProSportsMemorabilia.com as well as FansEdge, released its quarterly report with word that revenue was up 5.7 percent, to $15.2 million from $14.4 million during the same period a year ago.
The Plantation, Florida-based sports memorabilia company reported a loss of $786,000, a little more than half of what it lost in the same quarter last year. The company reported a $2.8 million loss for the nine-month period, up slightly from its $2.7 million loss a year ago.
“The themes of our quarterly and nine month results were our cash flow improvements, our Internet revenue producing opportunities and our ability to reign in operating expenses,” stated, Ross Tannenbaum, Dreams President & CEO.
The company has turned much of its focus to online sales, announcing another deal to provide an online fan store for the Minneapolis Star-Tribune newspaper.
“New web syndication signings were dominant achievements during the third quarter of 2009," said Tannenbaum. "The company announced its new partnerships with NCAA Football.com, JC Penney, the Washington Wizards, WalMart, and the Baseball Hall of Fame. We are uniquely positioned to grow our Internet presence in the sports licensed products industry. This is the fastest growing area of the company and will remain its primary focus.”
The company’s stock was trading at just 21 cents per share in May, but has since climbed back to settle in around $1.35.