Business
RUM Posts Continued Growth in Q1
Jun. 6, 2011 (Filing Services Canada) -- Rocky Mountain Liquor Inc. (RUM - TSX Venture), listed...
About this update from Rocky Mountain Liquor Inc.
[{"type":"text","content":"\nRUM Posts Continued Growth in Q1\n\n Jun. 6, 2011 (Filing Services Canada) -- Rocky Mountain Liquor Inc. (RUM - TSX Venture), listed on the TSX Venture Exchange (the \"Exchange\"), today reported its financial results for the period ending March 31, 2011.Results Highlights for the 3-month period ending March 31, 2011:* EBITDA increased 52.46% from $213,942 to $326,167;* Sales increased 14.79% from $8,729,994 to $10,021,156;* Operating margin increased 23.61% from $193,219 to $237,962;* Operating margin percentage increased from 2.21% to 2.37% During the three-month period ended March 31, 2011, the Company acquired one new store in St. Paul, Alberta, and completed the construction of a new store in Edmonton, Alberta, resulting in 34 stores in operation at the end of the First Quarter.Development of two new stores, one in Pincher Creek, Alberta and one in Wainwright, Alberta is now complete.  These stores opened on April 15, 2011 and April 21, 2011 respectively.  Additionally the Company announced the potential acquisition of two more stores in Lethbridge, Alberta to close subject to due diligence in Q2 2011, and one new store development in Northern Alberta expected to open in Q3. Development permits have now been obtained for this new store development and construction is expected to commence in Q2.Sales increased 14.79% in Q1 as a result of the increased number of stores in operation. Operating margin contribution increased to $237,962 up from $193,219 as did the operating margin percentage from 2.21% to 2.37%, mainly due to an increase in EBITDA less offsets from interest rate swap.EBITDA increased substantially by 52.46% from $213,942 to $326,167.  Net loss for the quarter was $145,502, which increased from $60,546 in the same quarter in 2010.  Prior year comparisons have been restated as a result of transition to International Financial Reporting Standards.During the first quarter the Company was awarded the Alberta Venture magazine Fast Growth 50 Award, ranking 16th overall and second in companies over $20 million in revenue. On June 1st, 2011 RUM received a second growth award. This time Rocky Mountain placed in the 23rd annual PROFIT 200 rankings for the first time. PROFIT magazine ranks the top 200 growth companies based on revenue growth over a five year period. Mr. Peter Byrne,...