I wonder if ASICS America Corporation, private company sport shoes etc., will end up here.

Phoenix Footwear Group, Inc. Shareholders Authorize Reverse/Forward Stock Split
Date : 01/31/2011 @ 5:51PM
Source : PR Newswire
Stock : Phoenix Footwear (PXG)
Quote : 0.324 0.064 (24.62%) @ 4:31PM


Phoenix Footwear Group, Inc. Shareholders Authorize Reverse/Forward Stock Split

Phoenix Footwear (AMEX:PXG)
Intraday Stock Chart
Today : Monday 31 January 2011
Phoenix Footwear Group, Inc. (Amex: PXG), (the "Company") announced today that at a special meeting on January 28, 2011 (the "Special Meeting"), the shareholders approved a 1-for-200 reverse stock split (the "Reverse Stock Split") of the Company's common stock, to be immediately followed by a 200-for-1 forward stock split of the common stock (the "Forward Stock Split" and together with the Reverse Stock Split, the "Reverse/Forward Stock Split"). As a result, registered shareholders owning fewer than 200 shares of common stock of record prior to the Reverse Stock Split will have such pre-split shares cancelled and converted into the right to receive cash consideration of $0.75 per pre-split share. The Reverse/Forward Stock Split will be effective following the close of business on January 31, 2011.

The purpose of the Reverse/Forward Stock Split is to allow the Company to suspend its Securities and Exchange Commission reporting obligations by reducing the number of stockholders of record to fewer than 300. The Company expects to repurchase approximately 12,800 shares for $9,600 and reduce its number of shareholders of record to approximately 210. As a result, the Company expects to terminate the registration of its common stock under federal securities laws as soon as practicable. The Company also intends to file a Form 25 with the SEC to voluntarily delist its shares from the NYSE AMEX as soon as possible after completion of the stock split. This delisting will take effect 10 days following the filing of the Form 25.

Jim Riedman, CEO and President, stated , "We are pleased to announce this Reverse/Forward Split, as it is an important step toward our goal of simplifying the operating structure of the Company and reducing overhead costs significantly. We believe that we initiated this process at an appropriate time and that it is in the best interest of our stockholders and the Company's future growth. We look forward to our shares trading on the Pink OTC Markets and providing the shareholders with financial information relating to the fiscal year ended January 1, 2011 in the near future."

Additional information regarding the Reverse/Forward Stock Split is contained in the definitive proxy statement and other relevant documents filed with the SEC and may be obtained free of charge at the SEC's website, http://www.sec.gov and at www.envisionreports.com/pxg. Shareholders of record as of the effective time of the Reverse Stock Split to receive cash in lieu of fractional shares will receive instructions by mail regarding the method of exchanging the old stock certificates for cash in lieu of fractional shares. Computershare Trust Company, N.A., the Company's transfer agent, will act as the Exchange Agent for the Reverse/Forward Stock Split.

About Phoenix Footwear Group, Inc.

Phoenix Footwear Group, Inc., headquartered in Carlsbad, California, specializes in quality comfort women's and men's footwear with a design focus on fitting features. Phoenix Footwear designs, develops, markets and sells footwear in a wide range of sizes and widths under the brands Trotters®, SoftWalk®, and H.S. Trask®. These brands are primarily sold through department stores, leading specialty and independent retail stores, mail order catalogues and internet retailers and are carried by approximately 650 customers in over 900 retail locations throughout the U.S. Phoenix Footwear has been engaged in the manufacture or importation and sale of quality footwear since 1882.

Forward-Looking Statements

This press release contains certain forward-looking statements. These forward-looking statements include, but are not limited to, statements preceded by, followed by or that include the words "believes," "could," "expects," "anticipates," "estimates," "intends," "plans," "projects," "seeks," "exploring," or similar expressions. Such statements are subject to certain risks and uncertainties which could cause actual results to differ materially from results presently anticipated or projected. Phoenix Footwear cautions you not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Readers are advised that the Phoenix Footwear's actual results may differ materially from any opinions or statements expressed with respect to future periods in any current statements in this press release or in our other filings with the Securities and Exchange Commission, all of which are available at the SEC's website at http://www.sec.gov. Many of these risks and uncertainties are discussed in Phoenix Footwear's annual report on Form 10-K for the year ended January 2, 2010, filed with the SEC on March 31, 2010, and in reports we have subsequently filed with the SEC, provided that the forward looking statement safe harbor provisions of the Private Securities Litigation Reform Act of 1995 do not apply to any forward-looking statements the Company makes in connection with this transaction.

SOURCE Phoenix Footwear Group, Inc.

PXG down to $1.25

how low can this possibly go?

Phoenix Footwear Group, Inc. Announces Second Quarter 2007 Conference Call

CARLSBAD, Calif., Aug 09, 2007 /PRNewswire-FirstCall via COMTEX/ -- Phoenix Footwear Group, Inc. (Amex: PXG), a multi-brand footwear and accessories company, announced today that it will report its financial results for the second quarter and six months ended June 30, 2007 after the market close on Monday, August 13, 2007. James Riedman, Chairman, Cathy Taylor, Chief Executive Officer, and Kenneth Wolf, Chief Financial Officer, will host a conference call to discuss the results on the same day at 5:00 p.m. Eastern Time.

To participate in the conference call, investors should dial 888-802-2266 ten minutes prior to the scheduled start time. International callers should dial 913-312-1270. If you are unable to participate in the live call, a replay will be available beginning Monday, August 13, at 8:00 p.m. Eastern Time, through Monday, August 20, at midnight Eastern Time. To access the replay, dial 888-203-1112 (passcode: 5010423). International callers should dial 719-457- 0820 and use the same passcode.

The call will also be broadcast live over the Internet and can be accessed on the Investor section of Phoenix Footwear's website at http://www.phoenixfootwear.com. To listen to the live call, please visit the Investor section of Phoenix Footwear's website at least fifteen minutes prior to the start of the call to register, download, and install any necessary audio software. For those unable to participate during the live broadcast, the webcast will be archived.

About Phoenix Footwear Group, Inc.

Phoenix Footwear Group, Inc., headquartered in Carlsbad, California, designs, develops and markets a diversified selection of men's and women's dress and casual footwear, belts, and other accessories. The Company's moderate-to-premium priced brands include the Tommy Bahama Footwear(R), Trotters(R), SoftWalk(R), Strol(R), H.S. Trask(R), and Altama(R) footwear lines, and Chambers Belts(R). Emphasizing quality, fit and traditional and authentic designs, these brands comprise over 100 different styles of footwear and 750 styles of personal accessories primarily sold through department stores, specialty retailers, mass merchants and catalogs. Phoenix Footwear Group, Inc. is traded on the American Stock Exchange under the symbol PXG.

SOURCE Phoenix Footwear Group, Inc.

CONTACT: Kenneth Wolf, Chief Financial Officer of Phoenix Footwear Group, Inc.,
+1-760-602-9688; or Andrew Greenebaum, agreenebaum@icrinc.com, or Allyson Pooley,
apooley@icrinc.com, both of ICR, Inc., +1-310-954-1100, for Phoenix Footwear Group,
Inc.

URL: http://www.phoenixfootwear.com
http://www.prnewswire.com
www.prnewswire.com

Copyright (C) 2007 PR Newswire. All rights reserved

Closed at 3.58. Hope to consolidate in this range. Should be more contracts coming.

News out... Friday after hours...

http://biz.yahoo.com/e/070713/pxg8-k.html

13-Jul-2007

Entry into a Material Definitive Agreement



Item 1.01 Entry into a Material Definitive Agreement.
On July 9, 2007, the Defense Supply Center Philadelphia (the "DSCP") of the United States Department of Defense awarded the registrant's wholly-owned subsidiary, Altama Delta Corporation, a contract to furnish hot weather infantry combat boots. The contract contains an initial one year term with four one year extension options available to the DSCP. The contract is a fixed price with economic price adjustment, indefinite delivery, and indefinite quantity contract. The contract provides for a minimum of approximately 83,000 pairs and a maximum of approximately 337,000 pairs in contract year one for a maximum fixed price of approximately $20.4 million. It also provides for a minimum of approximately 61,000 pairs and a maximum of approximately 308,000 pairs in each of the next four contract option years. As a result, there can be no assurance of the ultimate number of combat boots that the DSCP will purchase under the contract.

first trade was for 400... possible signal to trade it sideways? I don't expect much action today.

3.81 x 3.90 consolidated here yesterday

Growth Estimate for PXG is 350% for 2008 & 137% for this year, given by Yahoo Analyst.

Revenue and Profit last 5 years:

2006: $140M revs, $48M profit
2005: $109M revs, $41M profit
2004: $76M revs, $31M profit
2003: $39M revs, $16M profit
2002: $36M revs, $13M profit

3.95 x 4.00 - little dip

4.25 x 4.33

4.21 x 4.23 - 360x22

Most of my buys showing up as sells.

be interesting to see how this plays out today.

Someone hit the 4.60 pre-market!!!!!

Forward P/E:

I am going projected earnings for the next year(s) to be $7M and with 8.4M shares, that comes to .83 per share.

With a P/E ratio of 12.1 the PPS would be $10.04
With a P/E ratio of 16.8 the PPS would be $13.94
With a P/E ratio of 21.7 the PPS would be $18.01

Other companies in PXG's sector that I use for comparison are:
Mcrae Industries, Inc. P/E ratio is 12.1
Lacrosse Footwear, Inc. P/E ratio is 16.8
Rocky Brands, Inc. P/E ratio is 21.7

In addition to the $100M contract with Altama, PXG will have more income from their other divisions: women's dress and casual footwear, belts, personal items, outdoor sportswear and travel apparel. The Company's moderate-to-premium priced brands include the Tommy Bahama Footwear®, Trotters®, SoftWalk®, Strol®, H.S. Trask® and Chambers Belts®.

Revenues will be well over $20M a year and earnings will probably be more than $7M, meaning a high PPS. Good things to come for PXG.

GLTA...Stayeven

I picked up a few at the EOD...it ran so hard I had a hard time catching it. I expect the same for tomorrow.

After doing DD all night, I plan on picking up more at opening bell, unless it gaps past my expectations.

In here at 3.75 - let's see where this thing goes tomorrow.

$100M contract with the Department of Defense and the Market Cap as of today was only $32.4M.