Operating and administrative expenses for the third quarter of 2012 increased to $225.9 million, from $224.5 in the same period last year. Operating and administrative expenses as a percentage of net sales increased to 23.2% in the third quarter of 2012, from 23.0% in the same period last year, due to increased occupancy costs related to new and replacement stores, one-time employee costs, incremental costs related to being a public company and reduced fixed cost leverage in the Company’s core business resulting from lower same store sales. Included in the third quarter 2012 were $1.4 million of one-time recruiting, relocation and severance charges related to the Company’s recently announced management changes.For the third quarter of 2012, adjusted net income was $8.8 million, or $0.20 diluted earnings per common share, compared to $12.4 million, or $0.41 diluted earnings per common share, for the third quarter of 2011. Adjusted net income for the third quarter of 2012 excludes a $0.8 million after-tax charge, or $0.02 per diluted common share, for one-time employee related expenses as discussed above. Net income for the third quarter of 2012 was $7.9 million, or $0.18 diluted earnings per common share.
Roundy’s, Inc. Reports Third Quarter 2012 Financial Results
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