Business
RUM Reports Solid Q2 Growth
RUM Reports Solid Q2 Growth
About this update from Rocky Mountain Liquor Inc.
[{"type":"text","content":"\nRUM Reports Solid Q2 Growth\n\n\n Aug. 20, 2010 (Filing Services Canada) -- Rocky Mountain Liquor Inc. (RUM - TSX Venture), (\"Rocky Mountain Liquor\" or the \"Company\"), listed on the TSX Venture Exchange (the \"Exchange\"), today reported its financial results for the three and six-month period ended June 30, 2010.  Key operational results, year over year Second Quarter comparison:* Net income after adjusting for the one time inventory margin gain in Q2 2009 of $379,759 increased from $52,460 to $192,176;* Sales increased 57% from $13,505,536 to $21,253,807;* Operating margin after adjusting for the one time inventory margin gain in Q2 2009 of $379,759 increased 101% from $595,184 to $1,196,460;* Operating and Administrative Expenses as a percentage of sales reduced from 17.09% to 15.51%;* Operating Margin after adjusting for the one time inventory margin gain in Q2 2009 percentage increased from 4.41% to 5.63%;* Average Revenue per store grew 31% from $540,221 to $708,460During the three-month period ended June 30, 2010, the Company completed the development a new store in Lac La Biche.  Andersons operated 30 stores at the end of the Second Quarter.  Two new stores were opened in Lethbridge subsequent to the quarter end.  One store was a greenfield development and the other store was acquired, resulting 32 stores in operation.  As previously announced the Company intends to develop additional stores.  The Company will potentially operate 34 stores in Alberta if these projects are successfully completed.\"The one-time gain on inventory in Q2 last year provided our team with a hurdle to overcome this year.  I am extremely pleased with this quarter's results in the face of this one time comparative event,\" said Peter Byrne, Rocky Mountain Liquor CEO.  \"Once again our growth metrics are the key to our continued success.  The increased in consumer transactions and market share combined with reductions in operating expense percentage highlight the excellence of our team and their commitment to this enterprise.\" Mr. Byrne added.The Company's unaudited consolidated financial statements and Management Discussion and Analysis (\"MD&A) for the three and six-month period ended June 30, 2010 are available under the Company's profile on SEDAR at...