Planet Organic Health Corp Announces Third Quarter Financial Results



    Sales increase 103%; EBITDASX increase of 25%;

    EDMONTON, June 2 /CNW/ - PLANET ORGANIC HEALTH CORP
(TSX Venture Exchange - POH), Canada's leading natural products retailer
announces their financial results for the quarter ended March 31, 2008. Sales
increased 103% to $29.7 million for the quarter versus $14.6 million for the
same period last year. EBITDASX (as defined below) increased 25% to
$1.6 million compared to $1.3 million for the same period last year. These
increases were driven by acquisitions, store expansions, and same-store sales
growth.
    "Q3 earnings are consistent with our expectations" reports Darren
Krissie, CFO. "As a measure of financial performance, we concentrate on
EBITDASX" Mr Krissie said. Given that, we are on a solid financial footing
with a 25% increase in EBITDASX in the quarter to quarter comparison. The net
losses in the quarter come from non-cash items such as stock based comp and
foreign exchange translations," Mr Krissie added.

    
    Summary of Q3 Fiscal 2008 Financial Results

                                                   Fiscal 2008   Fiscal 2007

    Sales                                           29,695,103    14,575,137

    Cost of Goods Sold                              18,445,880     8,784,072

    Franchise Revenue                                  240,944       186,387

    Gross Profit                                    11,490,167     5,977,452

    SGA                                              9,904,896     4,708,667

    Amortization                                       592,324       246,062

    Interest                                           872,429        39,753

    Stock Based Compensation                           187,663             0

    Foreign Exchange (gain)/loss                       503,637             0

    EBITDASX                                         1,585,271     1,268,785

    Earnings before Tax                               (570,782)      982,970

    Net Income / (loss)                               (711,782)      682,970

    Cash Flow from Operations (before changes
     in non-cash working capital accounts)           1,283,197     1,009,947



                                                       YTD           YTD

                                                   Fiscal 2008   Fiscal 2007

    Sales                                           82,942,949    39,580,622

    Cost of Goods Sold                              50,274,936    23,927,422

    Franchise Revenue                                  678,791       551,980

    Gross Profit                                    33,346,804    16,205,180

    SGA                                             28,056,003    12,961,852

    Amortization                                     1,394,063       721,167

    Interest                                         2,816,601       154,372

    Stock Based Compensation                         1,049,739             0

    Foreign Exchange (gain)/loss                      (421,968)            0

    EBITDASX                                         5,290,801     3,243,328

    Earnings before Tax                                452,366     2,367,789

    Net Income                                         (32,634)    1,617,789

    Cash Flow from Operations (before changes
     in non-cash working capital accounts)           3,826,309     2,381,702
    

    Please see the Company's Q3 consolidated financials and Management
Discussion and Analysis for further information regarding the Company's
results. EBITDASX reported above is a non-GAAP measure and represents earnings
before interest, taxes, depreciation, amortization, stock-based compensation
and foreign exchange gains or losses.
    For further financial information and a copy of our third 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 nine
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 eight natural health outlets
under the Healthy's & Planet Organic Living banner. Another POHC company,
Trophic Canada is the country's leading manufacturer of natural supplements.
The Company has a total of 65 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: Bob Beaty, The Howard Group Inc., Toll Free:
1-888-221-0915, Info@howardgroupinc.com, www.howardgroupinc.com; Planet
Organic Health Corp., Darren Krissie, VP Corporate Development, CFO, (780)
719-4667

Organization Profile

PLANET ORGANIC HEALTH CORP.

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