Business
Rothmans reports results for first quarter of fiscal 2007
Rothmans reports results for first quarter of fiscal 2007.
About this update from Pantera Silver Corp.
[{"type":"text","content":"\n\n\n\n\n>\n\nTrading: TSX: ROC\n\nTORONTO, July 25 /CNW/ -Rothmans Inc. today announced its results for the\nfirst quarter of fiscal 2007, which ended June 30, 2006.\nRothmans' earnings for the first quarter were $29.3 million, or $0.43\nbasic earnings per share, compared with $29.7 million or $0.44 basic earnings\nper share in the same quarter of fiscal 2006.\nSales at 60%-owned subsidiary Rothmans, Benson & Hedges Inc., net of\nexcise duty and taxes, decreased to $162.9(1) million in the most recent\nquarter compared with $164.6(1) million in the first quarter of fiscal 2006.\nDuring the three months ended June 30, 2006, total reported industry\ndomestic sales volumes for all tobacco products decreased 9.8% from a year\nearlier. It is believed that the increased presence of contraband product\ncontributed to this decline, which continues to exceed the historical average\nrate experienced by the industry. Total reported industry domestic sales\nvolumes of 8.8 billion equivalent sticks in the most recent quarter were 16.0%\nhigher than in the prior quarter, reflecting normal industry seasonality.\nRBH's EBITDA margin for the first quarter was 52.6%(1) compared with\n52.3%(1) in the first quarter a year ago, primarily as a result of price\nincreases across all product categories and lower sales and marketing costs.\nThis was partially offset by the effect of lower shipment volumes, higher\nproduct input costs and volume shifts from the mid-tier to the lower-priced\ntier of the cigarette price category. In the quarter ended March 31, 2006,\nRBH's EBITDA margin was 36.9%(1).\n\n>\n\nRBH's share of the total domestic composite market was 31.8% for the\nquarter ended June 30, 2006, unchanged from the previous quarter but higher\nthan the 31.1% reported for the same quarter of 2006. Premium cigarette share\nwas 15.5%, up slightly from 15.3% in the prior quarter but the same as a year\nearlier. RBH's share of the domestic price cigarette category of 45.0%\ncompared with 45.8% in the previous quarter and 44.4% in the quarter ended\nJune 30, 2005. In the fine cut market, RBH's share was 58.2%, up from 57.9% in\nthe prior quarter but lower than the 60.3% share in the year-earlier quarter.\nRBH's share of the total domestic price category was 47.2%, compared with\n48.2% in the prior quarter and 47.8% in the quarter ended June 30, 200...