Leading Brands, Inc. (Nasdaq:LBIX), Canada’s largest independent, fully integrated brand management company is pleased to announce record revenues and profits for its 2000 fiscal year ended February 28, 2001.

Revenues climbed 70% to $76,416,000Cdn ($49,747,000US) for the company’s fiscal year ending February 28, 2001, versus $45,184,000Cdn ($29,415,000US) for the year ending February 29, 2000. Net income for the period was $1,818,000Cdn ($1,184,000US) or $0.13Cdn ($0.09US) per share, compared to a loss of $934,000Cdn ($608,000US) or $0.15Cdn ($0.10US) per share in the same period of last year.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Leading Brands Chairman & CEO Ralph D. McRae said: “These results say everything that is necessary about the progress of our business. A 70% increase in sales and, more importantly, a $2,750,000Cdn positive swing in net income is nothing short of extraordinary.

“We continue to grow our brand portfolio and listings for our products. We are focused on developing our packaging expertise and seeking out new efficiencies. The list of our business partners and customers expands every day.

“When these results are combined with the material enhancement of our balance sheet, due in part to the SoBe transaction reported in March, it is easy to see why we are so excited about both the present state and future prospects of Leading Brands.”

Leading Brands, Inc. is the largest independent integrated brand management company in Canada. The Company’s unique Integrated Distribution System (IDS) offers turnkey, one-stop shopping to food and beverage brand owners. Its subsidiary, Quick, Inc. is building a home replenishment and delivery system for the new economy.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Statements in this news release that are not historical are to be regarded as forward-looking statements which are subject to risks and uncertainties that could cause actual results to differ materially. Such risks and uncertainties with respect to the Company’s business include general economic conditions, weather conditions, changing beverage consumption trends, pricing, and the availability of raw materials and economic uncertainties, including currency.

This press release is available at www.LeadingBrandsInc.com 

LEADING BRANDS, INC.

CONSOLIDATED STATEMENT OF INCOME (LOSS)

(EXPRESSED IN CANADIAN DOLLARS)

                                           February 28   February 29

                                                  2001          2000

———————————————————————

Sales                                     $ 76,416,053  $ 45,183,885

Expenses (Income)
Cost of sales, selling, general &
administration expenses 75,115,976 45,723,549
Depreciation and amortization 2,667,440 2,412,045
Interest expense 1,205,509 823,123
Other (4,391,104) (2,840,992)
—————————-
74,597,821 46,117,725

—————————-
Net income (loss) before taxes 1,818,232 (933,840)
—————————-

Income Taxes – –
—————————-
Net income (loss) after income taxes 1,818,232 (933,840)

Deficit, beginning of period (16,910,840) (15,977,000)

Dividends (431,632) –

—————————-
Deficit, end of period (15,524,240) (16,910,840)
—————————-

EARNINGS (LOSS) PER SHARE
Basic $ 0.13 $ (0.15)
Fully diluted $ 0.11 $ (0.15)

Weighted average number of shares
outstanding 10,390,165 7,523,749
———————————————————————

LEADING BRANDS, INC.
CONSOLIDATED STATEMENT OF INCOME (LOSS)
(EXPRESSED IN UNITED STATES DOLLARS)
February 28 February 29
2001 2000
———————————————————————
Sales $ 49,746,796 $ 29,414,677

Expenses (Income)
Cost of sales, selling, general &
administration expenses 48,900,447 29,765,997
Depreciation and amortization 1,736,501 1,570,240
Interest expense 784,786 535,853
Other (2,858,605) (1,849,484)
—————————-
48,563,129 30,022,606

—————————-
Net income (loss) before taxes 1,183,667 (607,929)
—————————-

Income Taxes – –
—————————-
Net income (loss) after income taxes 1,183,667 (607,929)

Deficit, beginning of period (11,008,945) (10,401,016)

Dividends (280,992) –

—————————-
Deficit, end of period (10,106,270) (11,008,945)
—————————-

EARNINGS (LOSS) PER SHARE
Basic $ 0.09 $ (0.10)
Fully diluted $ 0.07 $ (0.10)

Weighted average number of shares
outstanding 10,390,165 7,523,749
———————————————————————