Sales increase 130.2%; EBITDA increase of 47.1%;
EDMONTON, Nov. 29 /CNW/ - PLANET ORGANIC HEALTH CORP (TSX Venture
Exchange - POH), Canada's leading natural products retailer announces their
financial results for the quarter ended September 30, 2007. Sales increased
130.2% to $25.7 million for the quarter versus $11.2 million for the same
period last year. EBITDA increased 47.1% to $1.4 million compared to $927,064
for the same period last year. These increases were driven by acquisitions,
store expansions, and same-store sales growth.
"Our retail divisions continue to focus on gaining market share," reports
Darren Krissie, CFO of the Company.
Summary of Q1 Fiscal 2008 Financial Results
Fiscal 2008 Fiscal 2007
Sales 25,742,373 11,182,096
Cost of Goods Sold 15,484,307 6,845,321
Gross Profit 10,526,638 4,553,163
SGA 9,163,138 3,626,099
Amortization 348,443 230,190
Interest 1,010,343 48,964
Stock Based Compensation 305,912 0
Foreign Exchange Gain 877,517 0
EBITDA 1,363,500 927,064
Earnings before Tax 576,319 647,910
Net Income 460,479 397,910
Cash Flow from Operations
(before changes in non-cash working
capital accounts) 749,017 609,014
Please see the Company's Q1 consolidated financials for further data.
EBITDA reported above is a non-GAAP measure and is earnings before interest,
taxes, depreciation, amortization, stock-based compensation and foreign
exchange gains or losses.
For further financial information and a copy of our first quarter report,
please visit our website at www.planetorganichealthcorp.com or www.sedar.com.
ABOUT PLANET ORGANIC
Planet Organic Health Corp. (TSX-V: POH), is a natural products industry
company, comprising manufacturing, distribution and retail. Planet is listed
on the TSX Venture Exchange as a Tier One company. Planet operates eight
natural food supermarkets throughout Canada under the Planet Organic Market
banner and eleven natural food supermarkets in the U.S. under the Mrs Green's
Natural Markets banner. The Company also operates 48 natural health outlets
under the Sangster's Health Centre banner and seven natural health outlets
under the Healthy's banner. Another POHC company, Trophic Canada is the
country's leading manufacturer of natural supplements. The Company has a total
of 63 stores throughout Canada and 11 in the U.S.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Planet Organic Health Corp., Darren Krissie, VP
Corporate Development, CFO, (780) 719-4667