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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Leading Brands, Inc. Announces Q2 And YTD Results

Q2 Net Income $592,000 or $0.19 per share ($0.17 fully diluted) YTD Net Income $1,004,000 or $0.32 per share ($0.30 fully diluted) Q2 EBITDAS $1,031,000 or $0.34 per share ($0.30 fully diluted) YTD EBITDAS $1,828,000 or $0.59 per share ($0.54 fully diluted)

VANCOUVER, British Columbia, Sept. 28, 2012 (GLOBE NEWSWIRE) -- Leading Brands, Inc. (Nasdaq:LBIX), North America's only fully integrated healthy branded beverage company, announces results for its second quarter and first half of fiscal 2012, which ended August 31, 2012. All financial amounts are denominated in Canadian dollars, with all financial figures rounded to the nearest $000.

Q2 2012 net income was $592,000 or $0.19 per share ($0.17 fully diluted) versus net income of $646,000 or ($0.19) per share in the same quarter of fiscal 2011. YTD net income was 1,004,000 or $0.32 per share ($0.30 fully diluted), versus net income of 1,094,000 or $0.31 in the first half of last year.

Q2 2012 net income before stock based compensation (SBC) was $636,000 or $0.21 per share ($0.19 fully diluted) versus $710,000 or $0.21 per share in the same quarter last year. YTD net income before SBC was $1,094,000 or $0.35 per share ($0.33 fully diluted) down from $1,327,000 or $0.38 ($0.36 fully diluted) a year ago.

Q2 2012 EBITDAS (Earnings Before Interest, Depreciation, Amortization and SBC) was $1,031,000 or $0.34 per share ($0.30 fully diluted), versus $1,202,000 or $0.0.35 per share during the same period last year. YTD EBITDAS decreased to $1,828,000 or $0.59 per share ($0.54 fully diluted) from $2,233,000 or $0.64 per share ($0.61 fully diluted) in the first half of fiscal 2011.

The reductions in net income, net income before SBC and EBITDAS were due to increased product development costs, both in Q2 and YTD, and costs incurred test marketing a new brand.

Non-GAAP Net Income before SBC is determined as follows:
         
  Q2 2012 Q2 2011 YTD  2012 YTD  2011
Net Income  $592,000  $646,000 $1,004,000 $1,094,000
Add back SBC  44,000  64,000 90,000 233,000
Net income before SBC  $636,000  $710,000 $1,094,000 $1,327,000
 
Non-GAAP Net Income per share before SBC is determined as follows:
         
  Q2 2012 Q2 2011 YTD  2012 YTD  2011
Net Income per share $0.19   $0.19 $0.32 $0.31
Add back SBC per share  0.02  0.02 0.03 0.07
Net Income per share before SBC  $0.21  $0.21 $0.35 $0.38
 
Pro-forma results for EBITDAS, as defined below, are determined as follows:  
   Q2  Q2 YTD YTD
   2012  2011 2012 2011
         
Net Income $592,000 $646,000 $1,004,000 $1,094,000
Add back:        
Interest  5,000  24,000 7,000 50,000
Depreciation and Amortization  163,000  169,000 322,000 335,000
Non-cash stock based compensation 44,000  64,000 90,000 233,000
Non-cash income tax expense  227,000  299,000 405,000 521,000
Total Add Backs 439,000  556,000 824,000 1,139,000
EBITDAS $1,031,000 $1,202,000 $1,828,000 $2,233,000
         
EBITDAS per share reconciles to earnings per share as follows:  
   Q2  2012  Q2  2011 YTD  2012 YTD  2011
Net Income per share $0.19   $0.19 $0.32 $0.31
Add back:        
Interest 0.00 0.01 0.01 0.01
Depreciation and Amortization 0.06 0.04 0.10 0.10
Non-cash stock based compensation 0.01 0.02 0.03 0.07
Non-cash income tax expense 0.08 0.09 0.13 0.15
  EBITDAS per share  $0.34  $0.35 $0.59 $0.64

Gross profit margin for the quarter was 41.9%, down slightly from 42.4% in the same quarter last year.

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

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