This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Leading Brands, Inc. Announces Q2 And YTD Results

VANCOUVER, British Columbia, Sept. 30, 2010 (GLOBE NEWSWIRE) -- Leading Brands, Inc. (Nasdaq:LBIX), North America's only fully integrated healthy branded beverage company, announces results for the second quarter of its 2010 fiscal year, which ended August 31, 2010. All financial amounts are denominated in Canadian dollars.

Q2 net income before stock based compensation (SBC) was $632,000 or $0.16 per share versus $876,000 or $0.22 per share in the same quarter last year. Year to date net income before SBC was $1,110,000 or $0.28 per share as compared to $1,151,000 or $0.28 in the same period of fiscal 2009. Q2 net loss including SBC was $549,000 or $0.14 per share versus a net income including SBC of $809,000 or $0.20 per share in the same quarter of fiscal 2009.

As explained in our July 1, 2010 Q1 news release, the Company vested certain stock options in order to dramatically reduce future SBC expenses and eliminate the volatility caused by the variable pricing formula mandated under GAAP using the Black Scholes model on those options. Consequently, the Company recorded a onetime SBC charge of $948,000 in Q2. Therefore, YTD net loss including SBC was $141,000 or $0.04 per share as compared to a net income including SBC of $1,012,000 or $0.25 last year. 

Non-GAAP Income before SBC is determined as follows:
  Q2 2010 Q2 2009 YTD 2010 YTD 2009
Net income (loss)  ($549,000)  $809,000  ($141,000)  $1,012,000
Add back SBC  1,181,000  67,000  1,251,000  139,000
Net income before SBC  $ 632,000  $ 876,000 $1,110,000 $1,151,000

Non-GAAP earnings per share before SBC are determined as follows:
  Q2 2010 Q2 2009 YTD 2010 YTD  2009
Earnings (loss) per share  $ (0.14)  $ 0.20  $ (0.04)  $ 0.25
Add back SBC per share  0.30  0.02  0.32  0.03
Earnings per share before SBC  $ 0.16  $ 0.22  $ 0.28  $ 0.28

The Company will, for at least the balance of this fiscal year, report EBITDAS (earnings before interest, taxes, depreciation, amortization and stock based compensation) as a measure of its ability to generate cash and highlight this non-recurring, non-cash expense. 

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.24 1.30%
FB $99.80 -4.10%
GOOG $683.10 -0.07%
TSLA $148.02 -9.00%
YHOO $27.05 -3.30%


Chart of I:DJI
DOW 16,027.05 -177.92 -1.10%
S&P 500 1,853.44 -26.61 -1.42%
NASDAQ 4,283.7530 -79.3910 -1.82%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs