Press release from CNW Group
MTY Food Group Inc. reports first quarter results
Thursday, April 26, 2012
MTY Food Group Inc. reports first quarter results13:21 EDT Thursday, April 26, 2012TSX Trading Symbol: "MTY"MONTREAL, April 26, 2012 /CNW Telbec/ - MTY Food Group Inc. ("MTY" or the "Company") (TSX: MTY), franchisor and operator of 2,232 quick service restaurants, reports today the operating results for the first three months of its 2012 fiscal year.Highlights of the first quarter:Earnings per share reach $0.23 representing an increase of 26% over same period last yearSame store sales growth of 3.64% during the quarterSystem sales grow 39% to $163.2 millionCash flows from operations of $6.4 million contribute to liquidities position at quarter end of $16.1 millionEBITDA surges by 39% to 7.4 millionRevenues grow to $21.9 million, from $16.8 million in the first quarter of 2011Results now reported using International Financial Reporting Standards In thousands of $ February 29, 2012 February 28, 2011 VarianceRevenue21,94516,76131%Operating expenses14,56511,46827%EBITDA7,3805,29339%Income before taxes6,1635,05222%Net income attributable to shareholders4,3923,49026%Basic and diluted EPS$0.23$0.1826% Cash flows from operations6,3532,264181%Note: These are financial highlights only. Management's Discussion and Analysis, the unaudited condensed interim consolidated financial statements and notes thereto for the quarter ended February 29, 2012 will be available on the SEDAR website at www.sedar.com and on the website of MTY Food Group Inc. at www.mtygroup.com.Certain information in this News Release may constitute "forward-looking" information that involves known and unknown risks, uncertainties, future expectations and other factors which may cause the actual results, performance or achievements of the Company or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. When used in this News Release, this information may include words such as "anticipate", "estimate", "may", "will", "expect", "believe", "plan" and other terminology. This information reflects current expectations regarding future events and operating performance and speaks only as of the date of this News Release. Except as required by law, we assume no obligation to update or revise forward-looking information to reflect new events or circumstances. Additional information on the Company is available on SEDAR at www.sedar.com.On Behalf of the Board of Directors of MTY Food Group Inc.Per: ____________________________Stanley Ma, Chairman, President & CEOFor further information: For more information please contact Jean-Francois Dube, Investor Relations at 1-450-226-8475 or by email at email@example.com or visits our website: www.mtygroup.com or visit SEDAR's website at www.sedar.com under the Company's name.