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GameStop F1Q08 (Qtr End 05/03/08) Earnings Call Transcript

May 22, 2008 3:38 PM ETGameStop Corp. (GME) Stock
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GameStop (NYSE:GME) January 8, 0000 ET

May 22, 2008 11:00 am ET


Dick Fontaine - Chairman, Chief Executive Officer

David Carlson - Chief Financial Officer

Dan DeMatteo - Vice Chairman, Chief Operating Officer


Colin Sebastian – Lazard Capital Markets

Gary Balter – Credit Suisse

Tony Gikas – Piper Jaffray

Analyst for David Magee – Suntrust Robinson Humphrey

Tony Wible – Citigroup

Arvind Bhatia – Sterne, Agee

Mike Hickey – Janco Partners

Bill Armstrong – C.L. King & Associates


Welcome to the GameStop Corporation’s Q1 2008 earnings conference call. Today’s call is being recorded. (Operator instructions)

I would also like to remind you that this call is covered by the Safe Harbor disclosure contained in GameStop's public documents and the property of GameStop. It is not for rebroadcast or use by any other party without the prior written consent of GameStop. Now at this time I would like to turn the conference over to Dick Fontaine, Chairman and Chief Executive Officer of GameStop Corporation. Mr. Fontaine, please go ahead.

Dick Fontaine

Thank you and welcome to GameStop’s first quarter conference call, I am Dick Fontaine, Chairman and CEO. With me today are David Carlson our CFO and Dan DeMatteo, our Vice Chairman and COO.

This morning we released our numbers for the first quarter which were again outstanding and by any traditional retail growth metrics, almost unprecedented. With total sales increasing 42%, comps increasing by 27% and net income increasing by 151% while first quarter earnings per share doubling over last year.

I’d make the point that the unique GameStop new and used model coupled with the continued growth of GameStop stores in both existing and emerging markets and a business with a record console and portable growth, expanding demographic reach, new applications and emerging genre combined make GameStop

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