Business
Empire Company Reports Fourth Quarter and Full Year Results
STELLARTON, NS, June 27, 2013 /CNW/ - Empire Company Limited (TSX: EMP.A) today announced f...
About this update from Empire Co Ltd Class A
[{"type":"text","content":"\n\n\nSTELLARTON, NS, June 27, 2013 /CNW/ - Empire Company Limited (TSX:\n EMP.A) today announced financial results for its fourth quarter and\n fiscal year ended May 4, 2013.  For the fourth quarter, the Company\n recorded net earnings, net of non-controlling interest, of $107.4\n million ($1.58 per diluted share) compared to $92.1 million ($1.35 per\n diluted share) in the fourth quarter last year. Adjusted net earnings,\n net of non-controlling interest, in the fourth quarter were $98.6\n million ($1.45 per diluted share) compared to $89.6 million ($1.32 per\n diluted share) in the fourth quarter last year, a $9.0 million\n increase.\n\n\nFourth Quarter Highlights \n\n\n\nSales of $4.31 billion, up $235.1 million or 5.8 percent (up 2.4 percent\n excluding the impact of the acquisition of 236 retail gas locations and\n related convenience store operations).\n\n\nSobeys' same-store sales increased 0.6 percent. \n\n\nAdjusted EBITDA (1) of $235.9 million versus $222.2 million last year.  \n\n\nNet earnings, net of non-controlling interest, of $107.4 million ($1.58\n per diluted share) compared to $92.1 million ($1.35 per diluted share)\n last year.  \n\n\nAdjusted net earnings (1), net of non-controlling interest, of $98.6 million ($1.45 per diluted\n share) versus $89.6 million ($1.32 per diluted share) last year. \n\n\nFunded debt to total capital ratio of 20.6 percent compared to 25.0\n percent last year. \n\n\nFree cash flow reported by Sobeys of $131.0 million.\n\n\n\n____________________\n\n\n(1)     Excludes items which are considered not indicative of underlying\n business operating performance. \n\n\nNet earnings, net of non-controlling interest, for the 52 weeks ended\n May 4, 2013 were $384.8 million ($5.65 per diluted share) compared to\n $339.4 million ($4.99 per diluted share) recorded last fiscal year. \n Adjusted net earnings, net of non-controlling interest, for the fiscal\n year ended May 4, 2013 were $367.3 million ($5.39 per diluted share)\n compared to $322.7 million ($4.74 per diluted share) for the 52 weeks\n ended May 5, 2012, a $44.6 million increase.\n\n\nFiscal 2013 Highlights \n\n\n\nSales of $17.61 billion, up $1,363.6 million or 8.4 percent (up 2.9\n percent excluding the impact of the acquisition of 236 retail gas\n locations and related convenience stor...