Business
Leon's Furniture Limited - 2006 first quarter
Leon's Furniture Limited - 2006 first quarter.
About this update from Leon's Furniture Limited
[{"type":"text","content":"\n\n\n\n\nTORONTO, May 12 /CNW/ - For the three months ended March 31, 2006, total\nLeon's sales were $154,973,000 including $34,955,000 of franchise sales\n($148,067,000 including $34,485,000 of franchise sales in 2005), an increase\nof 4.7%. Net income was $9,752,000, 55 cents per common share ($7,826,000,\n43 cents per common share in 2005), an increase of 28% per common share.\nIncluded in the first quarter 2006 results is a $1,500,000 (8 cents per common\nshare) after tax gain on the sale of land and building in London, Ontario.\nOverall, we are pleased that we were able to improve our financial\nresults in the first quarter of 2006. Our strong capital position will allow\nus to focus on increasing market share in existing and new markets going\nforward. Renovation and expansion plans will continue during 2006. We have\njust completed a successful opening in the first quarter 2006 of a new\nshowroom and warehouse in Vaughan, Ontario. We also plan to open new showrooms\nand warehouses in Saskatoon, Saskatchewan this fall and Newmarket, Ontario in\nearly 2007. Major renovations of existing stores in Calgary, Alberta;\nWinnipeg, Manitoba; and Halifax, Nova Scotia, are ongoing and should be\ncompleted within the next year.\nAs previously announced, we paid a quarterly 25 cents dividend on\nApril 6, 2006 and a special 50 cents dividend on May 5, 2006. Today we are\nhappy to announce that the Directors have declared a quarterly dividend of\n25 cents per common share payable on the 7th day of July 2006 to shareholders\nof record at the close of business on the 7th day of June 2006.\n\n>\n\n\n\n","length":32948,"tagName":"div"}]