Planet Organic Health Corp Announces Q3 Results



    EDMONTON, June 1 /CNW/ - Planet Organic Health Corp (TSX Venture Exchange
- POH), Canada's leading natural products retailer announces their financial
results for the third quarter ended March 31, 2009. Sales for the quarter were
$33.1 million compared to $29.7 million in 2008, an increase of 11.5%.
EBITDASX was $1.6 million, essentially unchanged from the prior year, and cash
flow from operations before non-cash working capital adjustments decreased by
only $0.2 million from 2008. On a year to date basis, sales for the nine month
period ended March 31, 2009 were $95.2 million, $12.3 million, or 14.8% higher
than for the same period last year.

    
    Summary of Q3 Fiscal 2009 Financial Results

                                                   Fiscal 2009   Fiscal 2008

    Sales                                          $33,114,675   $29,695,103

    Cost of goods sold                             $20,496,183   $18,445,880

    Gross profit                                   $12,878,857   $11,490,167

    Operating expenses                             $11,298,566    $9,904,896

    EBITDASX                                        $1,580,291    $1,585,271

    Loss before tax                                ($1,397,605)    ($570,782)

    Tax (recovery)                                   ($162,000)     $141,000

    Net loss                                       ($1,235,605)    ($711,782)

    Cash flow from operations (before non-cash
     working capital adjustments)                   $1,040,887    $1,283,197
    

    "EBITDASX remains static under the continuing economic environment.
Pre-tax losses were primarily driven by a foreign exchange loss of $663,565
(which is a non cash charge) on conversion of our U.S. denominated debt and
incremental interest costs, also affected by the strengthening of the U.S
dollar against the Canadian dollar. Our largest divisions, Planet Organic
Market in Canada and Mrs Green's Natural Market in the U.S. both reported
nominal negative same store sales growth during the quarter which was expected
given these extraordinary economic conditions. However, Planet remains
confident in its position and ability to be able to capitalize when the
economy recovers," reports Darren Krissie, CFO.
    EBITDASX reported above is a non-GAAP measure and is earnings before
interest, taxes, depreciation, amortization, stock-based compensation and
foreign currency translation.
    For further financial information and a copy of our annual report, please
visit our corporate website at www.planetorganichealthcorp.com

    
    About Planet Organic Health Corp.
    ---------------------------------
    
    Planet Organic Health Corp. (TSX-V: POH) is a natural products industry
company, comprising manufacturing, distribution and retail. Planet Organic is
listed on the TSX Venture Exchange as a Tier One company. Planet Organic
operates ten 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 43 natural
health outlets under the Sangster's Health Centre banner and seven natural
health outlets under the Healthy's and Planet Organic Living banners. Another
Planet Organic division, Trophic Canada, is the country's leading manufacturer
of natural supplements. The Company has a total of 60 stores throughout Canada
and eleven in the U.S. and has more than 650 employees.

    
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.
    

    Forward-Looking Statements

    Certain information included herein is forward-looking. Forward-looking
statements include, without limitation, statements regarding the future
financial position, business strategy, budgets, projected costs, capital
expenditures, financial results, taxes and plans and objectives of or
involving Planet. Many of these statements can be identified by looking for
words such as "believe", "expects", "expected", "will", "intends", "projects",
"anticipates", "estimates", "continues", or similar words and include but are
not limited to, statements regarding the accretive effects of the acquisition
and the anticipated results and expected benefits of the acquisition upon
closing thereof. Planet Organic believes the expectations reflected in such
forward-looking statements are reasonable but no assurance can be given that
these expectations will prove to be correct and such forward-looking
statements should not be unduly relied upon. Forward-looking statements are
not guarantees of future performance and involve a number of risks and
uncertainties some of which are described in Planet Organic's continuous
disclosure documents. Such forward-looking statements necessarily involve
known and unknown risks and uncertainties and other factors, which may cause
Planet Organic's actual performance and financial results in future periods to
differ materially from any projections of future performance or results
expressed or implied by such forward-looking statements. Such factors include,
but are not limited to: general economic, market and business conditions;
industry capacity; competitive action by other companies; refining and
marketing margins; the ability of suppliers to meet commitments; actions by
governmental authorities including increases in taxes; changes in
environmental and other regulations; and other factors, many of which are
beyond the control of Planet Organic. Any forward-looking statements are made
as of the date hereof and Planet Organic does not undertake any obligation,
except as required under applicable law, to publicly update or revise such
statements to reflect new information, subsequent or otherwise.





For further information:

For further information: Planet Organic Health Corp., Darren Krissie, VP
Corporate Development, CFO, (780) 719-4667

Organization Profile

PLANET ORGANIC HEALTH CORP.

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