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Leading Brands, Inc. Announces Q3 And YTD Results

Stocks in this article: LBIX

Forward Looking Statements

Certain information contained in this press release includes forward-looking statements. Words such as "believe," "expect," "will," or comparable terms, are intended to identify forward-looking statements concerning the Company's expectations, beliefs, intentions, plans, objectives, future events or performance and other developments. All forward-looking statements included in this press release are based on information available to the Company on the date hereof. Such statements speak only as of the date hereof. Important factors that could cause actual results to differ materially from the Company's estimations and projections are disclosed in the Company's securities filings and include, but are not limited to, the following: general economic conditions, weather conditions, changing beverage consumption trends, pricing, availability of raw materials, economic uncertainties (including currency exchange rates), government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other risk factors described from time to time in securities reports filed by Leading Brands, Inc. For all such forward-looking statements, we claim the safe harbor for forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

Better Ingredients | Better Brands™

©2013 Leading Brands, Inc.

This news release is available at www.LBIX.com

(table follows)

         
LEADING BRANDS, INC.        
CONSOLIDATED STATEMENT OF INCOME (LOSS)        
(UNAUDITED)        
(EXPRESSED IN CANADIAN DOLLARS)        
         
  Three months ended November 30,  2012 Three months ended November 30, 2011 Nine months ended November 30, 2012 Nine months ended November 30, 2011
         
Gross revenue  $4,080,852  $4,474,037 $14,715,968 $15,548,894
Less: Discounts, rebates and slotting fees (315,365) (239,533) (868,282) (837,728)
Net revenue 3,765,487 4,234,504 13,847,686 14,711,166
         
Expenses (Income)        
Cost of sales 2,778,952 2,670,187 8,714,255 8,809,493
Selling, general and administration expenses 1,261,799 1,070,709 3,610,394 3,359,611
Depreciation of property, plant and equipment 176,760 170,002 498,501 505,645
Interest expense 4,219 17,282 14,371 73,577
Loss on disposal of assets 34,466 - 52,606 9,622
Interest income - (2,852) (2,907) (9,578)
Change in fair value of derivative liability (20,158) (24,607) 21,154 19,258
Foreign exchange gain 3,785  (11,045) 4,336 (16,217)
  4,239,823 3,889,676 12,912,710 12,751,411
         
Income (loss) before income taxes (474,336) 344,828 934,976 1,959,755
         
Income tax expense (recovery) (98,043) 99,702 307,313 620,579
         
Net income (loss) and other comprehensive income (loss) $(376,293) $245,126 $627,663 $1,339,176
         
Basic income (loss) per share $(0.13) $0.07  $0.21 $0.39
         
Weighted average number of shares outstanding – basic 2,958,262 3,283,304 3,048,719 3,466,462
         
Diluted income (loss) per share $(0.11) $0.07  $0.19 $0.37
         
Weighted average number of shares outstanding – diluted 3,291,429 3,467,719 3,362,244 3,650,877
CONTACT: Leading Brands, Inc.
         Tel: (604) 685-5200
         Email: info@LBIX.com

Leading Brands, Inc. Company Logo

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