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TheStreet Open House

Roundy’s, Inc. Reports Fourth Quarter And Full Year 2012 Financial Results

Adjusted EBITDA for the fourth quarter of 2012 was $46.6 million, compared to $51.4 million in the fourth quarter of 2011. The decrease was primarily due to the effect of the continued challenging economic and competitive environment, which resulted in lower same-store sales, and reduced fixed cost leverage as well as additional costs associated with being a public company.

The Company opened one new store during the fourth quarter of 2012.

Net cash flows provided by operating activities for the fourth quarter 2012 was $57.4 million, compared to $55.0 million during the fourth quarter 2011.

The Company paid a dividend of $0.12 per share on all outstanding shares of its common stock during the fourth quarter. During the first quarter of fiscal 2013, the Company declared a quarterly cash dividend of $0.12 per share of outstanding common stock, which will be paid on March 18, 2013 to stockholders of record as of March 11, 2013.

Financial Results for Fiscal 2012

Net sales were $3,890.5 million for the fifty-two weeks ended December 29, 2012, an increase of $48.5 million, or 1.3% from $3,842.0 million for the fifty-two weeks ended December 31, 2011. The increase primarily reflects the benefit of new stores, partially offset by a 2.8% decrease in same-store sales. The decline in same-store sales was due to a 2.6% decrease in the number of customer transactions and 0.1% decrease in the average transaction size. The Company’s same-store sales were negatively impacted by the effect of competitive store openings during the last twelve months, as well as the continued challenging economic and promotional environment.

For the fifty-two weeks ended December 29, 2012 adjusted net income was $47.0 million, or $1.08 adjusted diluted earnings per common share, compared with $48.0 million, or $1.58 adjusted diluted earnings per common share for the fifty-two weeks ended December 31, 2011. Adjusted net income for the year excludes the $106.4 million after-tax goodwill impairment charge, or $2.44 per diluted common share, an $8.4 million after-tax charge, or $0.19 per diluted common share, for the early extinguishment of debt and one-time IPO expenses that occurred during the first quarter 2012, and other after-tax non-recurring charges of $1.4 million, or $0.03 per diluted common share. Reported net loss for the fifty-two weeks ended December 29, 2012 was $69.2 million, or $1.61 loss per diluted common share.

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