Business
RUM Reports Q2 Growth
RUM Reports Q2 Growth Edmonton, Alberta CANADA, August 22, 2011 /FSC/ - Rocky Mountain Liquor ...
About this update from Rocky Mountain Liquor Inc.
[{"type":"text","content":"\nRUM Reports Q2 Growth\n\nRUM Reports Q2 Growth\nEdmonton, Alberta CANADA, August 22, 2011 /FSC/ - Rocky Mountain Liquor Inc. (RUM - TSX Venture), (the \"Company\" or \"Rocky Mountain\"), listed on the TSX Venture Exchange (the \"Exchange\"), today reported its financial results for the period ending June 30, 2011.\nResults for the 6-month period ending June 30, 2011\n* EBITDA increased 43.51% from $866,486 to $1,243,527;\n* Sales increased 14.83% from $21,253,807 to $24,405,572;\n* Operating margin increased 7.93% from $1,154,807 to $1,246,461;\nResults for the 3-month period ending June 30, 2011\n* EBITDA increased 40.58% from $652,544 to $917,360\n* Sales increased 14.71% from $12,523,813 to $14,365,599;\n* Operating margin increased 4.88% from $961,588 to $1,008,498;\nDuring the three-month period ended June 30, 2011, the Company completed the construction of two new stores, one in Pincher Creek, Alberta and one in Wainwright, Alberta  resulting in 36 stores in operation at the end of the Second Quarter. \nThe Company acquired two new stores, in Lethbridge Alberta on July 12 and 13, 2011.  Additionally the Company previously announced one new store development in Northern Alberta which is also expected to open in Q3. \nSales increased for the three months ending June 30, 2011 by 14.71%, and by 18.83% for the six months ending June 30, 2011 as a result of the increased number of stores in operation.  Operating margin contribution increased to $1,008,498 up from $961,588 for the three months ending June 30, 2011, and for the six months ending June 30, 2011 to $1,246,461 from $1,154,807.  The increases in both periods are mainly due to an increase in EBITDA less offsets from interest rate swap and interest.\nEBITDA increased substantially by 40.58% for the three months ending June 30, 2011 and 43.51% for the six month period.  Net income for the 3 month period was $163,195, which decreased from $220,216 in the same quarter in 2010 mainly due to an increase in interest.   Net income for the 6 month period ending June 30, 2011 was $17,693, which decreased from $159,670 in the same quarter in 2010, again as a result of an increase in interest costs.  Prior year comparisons have been restated as a result of transition to International Financial Reporting Standar...