Natural Grocers by Vitamin Cottage, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2012; Revises Earnings Guidance for Fiscal 2013
January 31, 2013 at 04:07 pm EST
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Natural Grocers by Vitamin Cottage, Inc. reported unaudited consolidated earnings results for the first quarter ended December 31, 2012. For the year, the company's net sales were $95,831,348 compared with $74,838,619 a year ago. The increase was due to an increase of $11.3 million in sales from new stores and a 12.9% increase in comparable store sales. Operating income was $3,789,151 compared with $2,019,777 a year ago. Income before income taxes was $3,536,238 compared with $1,846,260 a year ago. Net income was $2,221,400 compared with $1,259,998 a year ago. Net income attributable to the company was $2,221,400 or $0.10 per basic and diluted share compared with $990,312 or $0.04 per basic and diluted share a year ago. Net cash provided by operating activities was $2,340,307 compared with $4,334,872 a year ago. Acquisition of property and equipment was $8,824,547 compared with $4,332,843 a year ago. EBITDA was $6,783,027 compared with $4,306,480 a year ago.
The company updated earnings guidance for fiscal 2013. The company expects comparable store sales growth of 8% - 9% compared to 7.5% - 8.5% expected previously. EBITDA percentage of sales is expected to be 7.2% - 7.4% compared to 7% - 7.2% expected previously. Net income percent of sales was 2.5% to 2.7%. Diluted earnings per share were $0.46 to $0.49. Capital expenditures were $8.8 million compared with previous guidance of $25 million to $30 million.
Natural Grocers by Vitamin Cottage, Inc. is a specialty retailer of natural and organic groceries, body care products, and dietary supplements. In the Company's grocery departments, it only sells United States Department of Agriculture certified organic produce and does not approve for sale grocery products that contain artificial colors, flavors, preservatives or sweeteners or partially hydrogenated or hydrogenated oils. Its grocery product categories include Natural Grocers brand products; dry, frozen and canned groceries; meats and seafood; dairy products, and dairy substitutes and eggs. It sells a wide selection of private label repackaged bulk products. Its dietary supplement department sells name-brand supplements and a line of Natural Grocers brand private label dietary supplements. It offers different formulations and potencies for each type of product. It offers natural pet care and food products, and household and general merchandise. It has around 167 stores in 21 states.
Natural Grocers by Vitamin Cottage, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2012; Revises Earnings Guidance for Fiscal 2013