Business
Leon's Furniture Limited - 2013 Second Quarter
TORONTO , Aug. 13, 2013 /CNW/ - The Board is pleased to announce the 2013 second quarter r...
About this update from Leon's Furniture Limited
[{"type":"text","content":"\n\n\nTORONTO, Aug. 13, 2013 /CNW/ - The Board is pleased to announce the 2013\n second quarter results of Leon's Furniture Limited, which represents\n our first full quarter with The Brick Limited under the ownership of\n our Company. For the three months ended June 30, 2013, total system\n wide sales were $573,381,000 which includes $480,559,000 of corporate\n sales and $92,822,000 of franchise sales ($207,722,000 including\n $162,095,000 of corporate sales and $45,627,000 of franchise sales in\n 2012). Same store sales were basically flat compared to the prior year\n second quarter. Net income was $14,445,000, $0.20 per common share\n ($9,004,000, $0.13 per common share in 2012), an increase of 53.8% per\n common share.  The sales and income increase in the quarter compared to\n the prior quarter were mainly a result of the inclusion of the\n operating results of The Brick Limited.\n\n\nFor the six months ended June 30, 2013, total system wide sales were\n $776,936,000 including $133,919,000 of franchise sales ($408,373,000\n including $88,847,000 of franchise sales in 2012) and net income was\n $19,869,000, 28¢ per common share ($17,603,000, 25¢ per common share in\n 2012), an increase of 12% per common share. These figures include The\n Brick Limited results since March 28, 2013.\n\n\nThis year is again proving to be a challenging one where we continue to\n see a soft economy with no clear signs of any major turnaround. Having\n said that, we are pleased that we completed the purchase of The Brick\n Limited at the end of the first quarter 2013. As we have indicated in\n earlier press releases, the branding of both the Leon's and Brick\n divisions will remain separate; however, we have already begun the\n process to integrate the best practices of each for the benefit of\n both.\n\n\nAs previously announced, we paid a quarterly 10¢ dividend on July 5,\n 2013. Today we are happy to announce that the Directors have declared a\n quarterly dividend of 10¢ per common share payable on the 4th day of October 2013 to shareholders of record at the close of business\n on the 4th day of September 2013. As of 2007, dividends paid by Leon's Furniture\n Limited are \"eligible dividends\" pursuant to the changes to the Income\n Tax Act under Bill C-28, Canada.\n\n\n  \n\n\n\n\n \n\n\n \n\n\n
...