Californian supermarket chain Stater Bros. Holdings has posted sales up 5.1% to US$672.8m for its Q3 ended 30 June 2002, from US$639.9m year on year.
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Chairman, president and CEO Jack H. Brown said that total sales for the 39-week year to date period were up 6% year on year to US$1.99bn. Like store sales increased 4.6% and 5.8% for the Q3 and 39-week periods ended 30 June 2002, respectively.
EBITDA amounted to US$26.4m in the Q3 2002 and compares to US$23.9m for the like period of last year. EBITDA for the 39-week comparable periods were US$81.5m in FY 2002 and US$68.9m in FY 2001.
The 156-outlet strong company reported Q3 net income of US$2.9m compared to US$2.3m for the Q3 2001. Net income for the year to date periods amounted to US$11.1m in 2002 and US$5.5m in 2001.
Brown said: “These results reflect the continued improvement over the prior year’s performance.”
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By GlobalDataCondensed Results of Operations
(In US$000s) Unaudited
13 Weeks Ended 39 Weeks Ended
06/30/02 06/24/01 06/30/02 06/24/01
Sales $672,779 $639,925 $1,989,579 $1,877,079
Gross profits 177,142 166,119 526,118 479,681
Operating Expenses:
Selling, general and
administrative
expenses 151,459 142,986 447,052 414,528
Depreciation and
amortization 7,976 7,194 23,160 21,102
Total operating expenses 159,435 150,180 470,212 435,630
Operating profit 17,707 15,939 55,906 44,051
Interest income 319 693 1,345 2,597
Interest expense (13,444) (12,847) (39,441) (38,506)
Equity in earnings from
unconsolidated affiliate 532 215 2,555 1,173
Other, net (179) (154) (1,488) (75)
Income before income taxes 4,935 3,846 18,877 9,240
Income taxes 2,024 1,577 7,740 3,789
Net income $2,911 $2,269 $11,137 $5,451
