TORRANCE, Calif., May 16, 2007 (PRIME NEWSWIRE) -- Execute Sports Inc. (OTCBB:EXCS) announced today that gross margins for the three months ended March 31, 2007 improved 18% over the corresponding quarter in 2006. Selling, General and Administrative expenses declined $569,148 or approximately 61% during the same period of time while Net Loss from continuing operations decreased $152,419, or 19%.
CEO, Geno Apicella commented, "Although the disposition of our capital intensive Academy and Eagle Rider product lines put a temporary strain on gross sales during the first quarter, Execute Sports made significant operational improvements in many regards during the reporting period." Mr. Apicella also stated, "As the company pushes forward with 100% focus on the growth of our burgeoning watersports business, we expect the continued improvements being made to our business processes to generate increased sales growth over the near to mid-term."
Additional company information, press releases and general commentary can be viewed by visiting http://www.excs.msprofit.com.
About Execute Sports, Inc.
Based in Torrance, California, Execute Sports, Inc. develops performance products including wetsuits, vests, and rash guards for the action sports industry. The Company's brands include Execute Wetsuits, Vests, Accessories and Wakeskates. For more information, go to http://www.executesports.com.
Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include expectations regarding the ability of the company to continue its growth and the financial performance thereafter. These statements involve certain risks and uncertainties that may cause actual results to differ materially from expectations as of the date of this release. These risks include the ability to accomplish goals and strategies, anticipated revenue enhancements, general economic conditions and the level of consumer spending, and numerous other factors identified in the Company's Form 10-KSB and other filings with the Securities Exchange Commission.