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

Monro Muffler Brake, Inc. Announces Record Second Quarter Fiscal 2011 Financial Results

Second Quarter Sales Up 18.6%, Comparable Store Sales Increase 6.4%

Second Quarter Net Income Up 33.2%; EPS $.63 Versus $.49 Last Year

Third Quarter Fiscal 2011 Estimated EPS Range of $.44 to $.50 Versus $.38 Last Year

Increase Estimated Fiscal 2011 EPS Range to $2.00 to $2.06

ROCHESTER, N.Y., Oct. 21, 2010 (GLOBE NEWSWIRE) -- Monro Muffler Brake, Inc. (Nasdaq:MNRO), a leading provider of automotive undercar repair and tire services, today announced record financial results for its second quarter ended September 25, 2010.

Second Quarter Results

Sales for the second quarter of fiscal 2011 increased 18.6% to a record $162.1 million compared to $136.6 million for the second quarter of fiscal 2010. Sales growth was driven by recent acquisitions, as well as strong in-store sales execution. Comparable store sales increased 6.4% on top of a 7.4% increase last year. Comparable store sales increased approximately 10% for tires, 9% for shocks, 8% for maintenance services, 6% for exhaust and 4% for alignments, with brakes flat as compared to last year.

Gross margin decreased to 40.9% in the second quarter from 43.1% in the prior year quarter as a result of a continued shift in sales mix towards the lower-margin tire category due to the addition of 79 acquired tire stores in fiscal 2010 and 2011 and increased tire material costs. The impact of these factors was partially offset by improved labor productivity and leveraging of fixed occupancy costs. Total operating expenses were $43.7 million, or 26.9% of sales, compared with $41.3 million, or 30.2% of sales, for the same period of the prior year. The reduction in operating expenses as a percent of sales is largely due to leveraging of these costs against the significant increase in sales, combined with the impact of cost control on discretionary expenses.

Operating income for the quarter increased 29.5% to $22.7 million from $17.5 million in the second quarter of fiscal 2010. Interest expense was $1.2 million compared to $1.4 million in the second quarter of fiscal 2010.

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 $94.12 0.11%
FB $101.62 -2.40%
GOOG $676.45 -1.00%
TSLA $154.31 -5.10%
YHOO $27.34 -2.30%


Chart of I:DJI
DOW 15,935.96 -269.01 -1.66%
S&P 500 1,848.75 -31.30 -1.66%
NASDAQ 4,269.3630 -93.7810 -2.15%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs