Friday, June 20, 2008

Armato: We intend to make money in 2009

by Unknown at 12:22 AM

Leonard ArmatoThe New Jersey Star-Ledger has a slightly better-than-average interview with AVP CEO, Leonard Armato, today. The interviewer lets Armato slip by on some tough questions but points awarded for doing a little homework.

Q. How is AVP volleyball doing now?

A. We're doing great. We're building a tremendous brand around the world. We acquired the tour, the AVP Crocs Tour had seven events. In 2008, we will have 19. ... We've grown from three hours of network television coverage in 2002; we will have 15 hours in 2008. ... On the revenue side, we've grown from $3 million in 2002 to $32 million in 2007.

Q. But you're still in the red

A. Right now, we're in the red. We diverted a lot of time and money when Shamrock Capital (unsuccessfully) attempted to acquire AVP in 2007. We intend to make money in 2009. We still continue to make our business plan more efficien.

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