This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

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

Third Quarter EPS Increased 40.0% to $.35, Above Previously Forecasted Range of $.29 - $.33 Third Quarter Comparable Store Sales Increase 5.4% Fourth Quarter Fiscal 2011 Estimated EPS Range of $.22 to $.26 versus $.19 Last Year Increase Estimated Fiscal 2011 EPS Range to $1.41 to $1.45 from $1.33 to $1.37

ROCHESTER, N.Y., Jan. 25, 2011 (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 third quarter ended December 25, 2010. Due to the Company's three-for-two stock split which was effective as of December 23, 2010, per share data for all periods is presented on a split adjusted basis.

Third Quarter Results

Sales for the third quarter of fiscal 2011 increased 8.4% to a record $165.5 million compared to $152.7 million for the third quarter of fiscal 2010. Sales growth was driven by strong in-store sales execution, as well as recent acquisitions. Comparable store sales increased 5.4% on top of a 7.2% increase last year. Comparable store sales increased approximately 8% for tires, 7% for shocks, 6% for maintenance services and 2% for brakes, with exhaust flat and alignments down slightly as compared to the third quarter last year.

Gross margin increased to 39.1% in the third quarter from 38.3% in the prior year quarter as a result of the implementation of price increases, the leveraging of distribution and occupancy costs against higher sales, increased vendor rebates and improved labor productivity. Total operating expenses were $46.1 million, or 27.8% of sales, compared with $44.3 million, or 29.0% 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.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,810.06 +91.06 0.51%
S&P 500 2,063.50 +10.75 0.52%
NASDAQ 4,712.97 +11.1030 0.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs