This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

The Pantry Announces Second Quarter Fiscal 2012 Financial Results

Stocks in this article: PTRY

The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced financial results for its fiscal second quarter and six months ended March 29, 2012.

Second Quarter Summary:

  • Net loss was $9.7 million or $0.43 per share. This compares to a net loss of $0.3 million or $0.01 per share in last year’s second quarter. Excluding the impact of impairment charges and loss on extinguishment of debt, the net loss for the second quarter of fiscal 2012 was $6.7 million or $0.30 per share compared to earnings per share of $0.01 in the prior year (see reconciliation below).
  • Adjusted EBITDA was $38.9 million, compared to $50.5 million a year ago.
  • Comparable store merchandise revenue increased 4.8%.
  • Merchandise gross margin was 33.4%, compared to 34.3% a year ago.
  • Fuel gross profit was $43.3 million, compared to $61.8 million a year ago.
    • Comparable store gallons improved 1.1%.
    • Retail fuel margin per gallon declined to $0.096 from $0.137 a year ago.
  • Long-term debt was reduced by $48.5 million of principal in the second quarter of fiscal 2012 and $94.0 million of principal, or down 12% in the first six months of fiscal 2012.

President and Chief Executive Officer Dennis G. Hatchell said, “We were pleased with our positive comparable store merchandise sales and fuel gallon trends within the quarter. Fuel gross profit was negatively impacted by consistently rising wholesale fuel costs, which was partially offset by our ongoing expense management efforts. In addition, we continue to reduce our indebtedness and have repaid $94 million of long term debt this fiscal year.”

Comparable store merchandise sales in the second quarter increased 4.8% in total and 7.9% excluding cigarettes. Total merchandise gross profit for the quarter was $145.4 million, an increase of $0.4 million from the second quarter a year ago.

1 of 5

Select the service that is right for you!

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 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • 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