Press release from CNW Group
MTY Food Group Inc. reports second quarter results
Thursday, July 05, 2012
MTY Food Group Inc. reports second quarter results08:33 EDT Thursday, July 05, 2012TSX Trading Symbol: "MTY"MONTREAL, July 5, 2012 /CNW Telbec/ - Montreal, MTY Food Group Inc. ("MTY" or the "Company") (TSX: MTY), franchisor and operator of 2,238 quick service restaurants, reports today the operating results for the second quarter of its 2012 fiscal year.Highlights of the second quarter:Earnings per share reach $0.28 representing an increase of 47% over same period last yearSame store sales growth of 1.88% during the quarterSystem sales grow 37% to $172.2 millionCash flows from operations of $7.2 million contribute to liquidities position at quarter end of $21.7 millionEBITDA surges by 48% to $8.6 millionRevenues grow to $23.7 million, from $18.6 million in the second quarter of 2011In thousands of $ 3 months endedMay 31, 2012 3 months endedMay 31, 2011 VarianceRevenue23,689 18,629 27%Operating expenses15,057 12,383 22%EBITDA8,632 5,849 48%Income before taxes7,728 4,739 63%Net income attributable to shareholders5,283 3,583 47%Basic and diluted EPS$0.28 $0.19 47% Cash flows from operations7,181 2,842 153%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 May 31, 2012 will be available on the SEDAR website at www.sedar.com and on the Company's website 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 & CEO For further information: 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.