USA: The Penn Traffic Company announces 13% increase in EBITDA
Same Store Sales Increase 2.3 Percent SYRACUSE, N.Y.--(BUSINESS WIRE)--The Penn Traffic Company (Nasdaq: PNFT - news) today announced that Adjusted EBITDA for the third quarter of Fiscal 2002 (the 13-week period ended November 3, 2001) was $24.5 million, an increase of 13.0 percent over the prior year's adjusted $21.7 million level. EBITDA has been adjusted to exclude loyalty card startup costs in the third quarters of Fiscal 2001 and Fiscal 2002 and startup costs and operating losses associated with the commencement of operation of the Company's New England stores in the third quarter of Fiscal 2001. Excluding these adjustments, EBITDA for the third quarter was $22.2 million, a 13.4 percent increase over the prior year's $19.5 million level.
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