Discounts, rebates and slotting fees were $315,000 in Q3 2012, up from $240,000 in Q3 of the prior year. SG&A expenses were $1,261,000 in Q3 of fiscal 2012, versus $1,070,000 in the comparative period of the previous year. The principal differences were costs relating to the test marketing of a new brand.
As at the end of Q3 2012 the Company had cash and available credit totaling approximately $997,000.
During Q3 2012 the Company repurchased an additional 34,785 shares of its common stock at an average price of $4.13 US per share, pursuant to its share repurchase program. As at November 30, 2012 the Company had outstanding 2,927,563 common shares. The Company believes that its common share price remains undervalued and will continue with its share repurchase program at appropriate times.
About Leading Brands, Inc.Leading Brands, Inc. (Nasdaq:LBIX) is North America's only fully integrated healthy beverage company. Leading Brands creates, designs, bottles, distributes and markets its own proprietary premium beverage brands such as TrueBlue ® Blueberry Juice, LiteBlue ® Blueberry Juice, PureBlue ®, UnWine ®, PureRed ®, and PureBlack ® SuperJuices via its unique Integrated Distribution System (IDS)™ which involves the Company finding the best and most cost-effective route to market. The Company strives to use the best natural ingredients hence its mantra: Better Ingredients – Better Brands. The Leading Brands, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=2681 Non-GAAP Measures Any non-GAAP financial measures referenced in this release do not have any standardized meaning prescribed by GAAP and are therefore unlikely to be comparable to similar measures presented by other issuers. EBITDAS is a non-GAAP financial measure. EBITDAS is defined as net income (loss) before income taxes, interest expense, depreciation and amortization and stock-based compensation. EBITDAS should not be construed as a substitute for net income (as determined in accordance with GAAP) for the purpose of analyzing operating performance, as EBITDAS is not defined by GAAP. However, the Company regards EBITDAS as a complement to net income and income before taxes.