Q3 US Dollar Gross Revenue grows 35% Q3 Net Loss of $0.04 US per
share YTD Net Loss of $0.03 US per share VANCOUVER, Jan. 13
/PRNewswire-FirstCall/ -- LEADING BRANDS, INC. (NASDAQ Capital
Market: LBIX), North America's only fully integrated premium
beverage company, announces results for the third quarter and the
first nine months of its fiscal year, both of which ended November
30, 2005. Gross revenue for the quarter was $9,556,000 US
($11,265,000 Cdn) versus $7,058,000 US ($8,777,000 Cdn) the prior
year, a US dollar increase of 35%. The Company's net loss for the
third quarter was $551,000 US ($649,000 Cdn) or $0.04 US ($0.04
Cdn) per share, versus a net loss of $434,000 US ($539,000 Cdn) or
$0.03 US ($0.04 Cdn) per share in the prior fiscal year. Year to
date gross revenue was $30,108,000 US ($36,507,000 Cdn) versus
$27,553,000 US ($36,220,000 Cdn) the prior year, an increase of
more than 9%. The Company reported a net loss for the first nine
months of the year of $409,000 US ($471,000 Cdn) or $0.03 US ($0.03
Cdn) versus a net income of $475,000 US ($677,000 Cdn) or $0.03 US
($0.04 Cdn) per share in the first nine months of the prior fiscal
year. The difference in net income, when comparing both the quarter
and year to date performance, is directly attributable to increases
in sales and marketing costs - particularly grocery chain slotting
fees. The increased sales and marketing expenses were necessarily
invested to support the North American- wide launch of the
Company's TrueBlue(R) blueberry brand. The Company has adopted a
policy of expensing all grocery chain slotting fees over a
twelve-month period and those expenses were a material cost in both
the Q3 and YTD results. Leading Brands Chairman and CEO Ralph McRae
said: "If you add back our increase in spending on sales and
marketing, Q3 was a much improved financial result over the same
period last year. Most importantly, we are seeing material sales
growth resulting from these efforts. We now have more than 10,000
chain grocery stores either carrying or committed to TrueBlue(R).
That listing base is increasing every month. TrueBlue(R) is now
available across Canada and in 40 U.S. states. That is quite an
accomplishment in just one year." Mr. McRae continued: "During the
quarter we also experienced increased volumes in our bottling
plants and in the Canadian distribution of our licensed brands,
particularly Hansen's Monster Energy(R) and Fiji Water(R). Year to
date EBITDA was $786,000 US ($987,000 Cdn)." Mr. McRae concluded:
"So far this fiscal year we have committed to approximately
$1,200,000 US in listing fees that are being expensed over a 12
month period. We will continue to incur those costs as we expand
distribution of our brands, but as they become fully amortized we
should see increasing net contribution from customers that have
carried our brands for more than a year." In conjunction with this
release, you are invited to listen to the Company's conference
call, which will be held on Friday, January 13, 2006, at 8:00 am
Pacific Time, (11:00 am Eastern Time), with Ralph McRae, Chairman
and CEO of Leading Brands, Inc. TO PARTICIPATE IN THE CONFERENCE
CALL PLEASE DIAL-IN: 1-416-641-6715 -------------- The Company will
continue to provide operational updates in its monthly newsletter
on the first of most months, posted at http://www.lbix.com/. About
Leading Brands, Inc. -------------------------- Leading Brands,
Inc. (NASDAQ:LBIX) is North America's only fully integrated premium
beverage company. The Company's unique Integrated Distribution
System (IDS)(TM) offers turnkey, one-stop shopping to food and
beverage brand owners, including manufacturing, distribution,
sales/marketing and licensing. In addition, Leading Brands produces
their own line of beverages such as TrueBlue(R), LiteBlue(TM),
TREK(R) Sports Drink, Soy2O(R), Country Harvest(R) Juices,
Caesar's(R) Bloody Caesar Cocktails, Brand X Originals(R),
Infinity(TM) Sparkling Mountain Spring Water and Cool Canadian(R)
Mountain Spring Water. Safe Harbor. The Company relies upon the
Safe Harbor Laws of 1933, 1934, and 1995 for all public statements.
Statements which are not historical facts are forward-looking
statements. The Company, through its management, makes
forward-looking public statements concerning its expected future
operations, performance and other developments. The words
"believe", "intend", "expect", "anticipate", "project", "estimate",
"predict" and similar expressions are also intended to identify
forward-looking statements. Such forward-looking statements are
necessarily estimates reflecting the Company's best judgment based
upon current information and involve a number of risks and
uncertainties, and there can be no assurance that other factors
will not affect the accuracy of such forward-looking statements. It
is impossible to identify all such factors. Factors which could
cause actual results to differ materially from those estimated by
the Company include, but are not limited to, general economic
conditions, weather conditions, changing beverage consumption
trends, pricing, availability of raw materials, economic
uncertainties (including currency exchange rates), government
regulation, managing and maintaining growth, the effect of adverse
publicity, litigation, competition and other factors which may be
identified from time to time in the Company's public announcements.
Reliance should not be placed on these forward-looking statements,
which reflect the views of our directors and management as at the
date of this report only. We undertake no obligation to publicly
revise these forward-looking statements to reflect events or
circumstances that arise after publication. We Build Brands(TM)
(C)2006 Leading Brands, Inc. This news release is available at
http://www.lbix.com/ LEADING BRANDS, INC. CONSOLIDATED STATEMENT OF
INCOME (LOSS) AND DEFICIT (UNAUDITED) (EXPRESSED IN CANADIAN
DOLLARS) Three months Three months Nine months Nine months ending
ending ending ending November 30 November 30 November 30 November
30 2005 2004 2005 2004
-------------------------------------------------------------------------
Gross sales $11,265,126 $ 8,776,718 $36,506,578 $36,220,233 Less:
Discounts, allowances and rebates (479,991) (240,350) (1,171,038)
(797,086) -------------------------------------------------------
Net sales 10,785,135 8,536,368 35,335,540 35,423,147 Expenses
(Income) Cost of sales 7,752,784 6,336,228 24,576,519 24,881,824
Selling, general & administration expenses 3,424,782 2,508,504
9,739,464 8,367,022 Depreciation and amortization 286,632 310,154
852,715 917,658 Interest expense 105,739 102,707 304,571 306,349
Other expense (income) 31,900 32 32,084 (884,932)
------------------------------------------------------- Total
Expenses 11,601,837 9,257,625 35,505,353 33,587,921
------------------------------------------------------- Net income
(loss) before taxes (816,702) (721,257) (169,813) 1,835,226
------------------------------------------------------- Income tax
- current 5,142 4,738 Income tax - provision future income tax
167,324 176,692 (301,593) (1,162,898)
------------------------------------------------------- Net income
(loss) (649,378) (539,423) (471,406) 677,066
------------------------------------------------------- Deficit,
beginning of period, as previously reported (25,868,793)
(25,636,604) (26,046,765) (25,735,980) Adjustment for change in
accounting for stock-based compensation - - - (1,117,113)
------------------------------------------------------- Accumulated
deficit, beginning of period, as restated (25,868,793) (25,636,604)
(26,046,765) (26,853,093)
-------------------------------------------------------
------------------------------------------------------- Deficit,
end of period ($26,518,171) ($26,176,027) ($26,518,171)
($26,176,027)
------------------------------------------------------- EARNINGS
(LOSS) PER SHARE Basic ($0.04) ($0.04) ($0.03) $0.04 Diluted
($0.04) ($0.04) ($0.03) $0.04 Weighted average number of shares
outstanding 15,075,069 15,042,807 15,059,469 15,041,042
-------------------------------------------------------------------------
LEADING BRANDS, INC. CONSOLIDATED STATEMENT OF INCOME (LOSS) AND
DEFICIT (UNAUDITED) (EXPRESSED IN UNITED STATES DOLLARS) Three
months Three months Nine months Nine months ending ending ending
ending November 30 November 30 November 30 November 30 2005 2004
2005 2004
-------------------------------------------------------------------------
Gross sales $ 9,556,435 $ 7,057,509 $30,107,593 $27,552,994 Less:
Discounts, allowances and rebates (407,186) (193,270) (970,605)
(610,286) -------------------------------------------------------
Net sales 9,149,249 6,864,239 29,136,988 26,942,708 Expenses
(Income) Cost of sales 6,576,844 5,095,069 20,276,730 18,945,884
Selling, general & administration expenses 2,905,312 2,017,131
8,046,950 6,393,623 Depreciation and amortization 243,155 249,400
703,798 702,881 Interest expense 89,701 82,589 251,515 234,572
Other expense (income) 27,061 26 27,214 (664,936)
------------------------------------------------------- Total
Expenses 9,842,073 7,444,215 29,306,207 25,612,024
------------------------------------------------------- Net income
(loss) before taxes (692,824) (579,976) (169,219) 1,330,684
------------------------------------------------------- Income tax
- current - 4,135 - 3,835 Income tax - provision future income tax
141,944 142,081 (239,326) (859,514)
------------------------------------------------------- Net income
(loss) (550,880) (433,760) (408,545) 475,005
------------------------------------------------------- Deficit,
beginning of period, as previously reported (17,592,423)
(17,451,636) (17,734,758) (17,524,051) Adjustment for change in
accounting for stock-based compensation - - - (836,350)
------------------------------------------------------- Accumulated
deficit, beginning of period, as restated (17,592,423) (17,451,636)
(17,734,758) (18,360,401)
-------------------------------------------------------
------------------------------------------------------- Deficit,
end of period ($18,143,303) ($17,885,396) ($18,143,303)
($17,885,396)
------------------------------------------------------- EARNINGS
(LOSS) PER SHARE Basic ($0.04) ($0.03) ($0.03) $0.03 Diluted
($0.04) ($0.03) ($0.03) $0.03 Weighted average number of shares
outstanding 15,075,069 15,042,807 15,059,469 15,041,042
-------------------------------------------------------------------------
CONTACT: Leading Brands, Inc. Tel: (604) 685-5200 Email:
DATASOURCE: Leading Brands, Inc. CONTACT: Leading Brands, Inc.,
Tel: (604) 685-5200, Email:
Copyright
Leading Brands (NASDAQ:LBIX)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024
Leading Brands (NASDAQ:LBIX)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024