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
TheStreet Open House

Monro Muffler Brake, Inc. Announces Fourth Quarter And Fiscal 2014 Financial Results

Stocks in this article: MNRO

~Record Fourth Quarter Net Income up 47% to $11.9 Million~ ~ Record Fiscal 2014 sales up 14% to $831.4 Million ~ ~ Fiscal 2014 Net Income up 28% to $54.5 Million; EPS of $1.67 versus $1.32 in Fiscal 2013 ~ ~ Fiscal 2015 Estimated EPS Range of $1.95 to $2.15 ~ ~ Increasing Quarterly Cash Dividend by 18.0% ~

ROCHESTER, N.Y., May 22, 2014 (GLOBE NEWSWIRE) -- Monro Muffler Brake, Inc. (Nasdaq:MNRO), a leading provider of automotive undercar repair and tire services, today announced financial results for its fourth quarter and fiscal year ended March 29, 2014.

Fourth Quarter Results

Sales for the fourth quarter of fiscal 2014 increased 3.7% to a record of $203.2 million as compared to $195.9 million for the fourth quarter of fiscal 2013. The sales increase for the fourth quarter was due primarily to an increase in sales from newly acquired stores, offset by a comparable store sales decrease of 1.3%. Comparable store sales were relatively flat for the maintenance and exhaust categories, and decreased approximately 2% for tires, brakes and alignments, and 3% for front end/shocks.

Gross margin improved 190 basis points to 37.9% in the fourth quarter from 36.0% in the prior year due to reduced material costs and payroll control. Total operating expenses were $55.6 million, or 27.4% of sales, as compared with $55.1 million, or 28.1% of sales, for the same period of the prior year. The decrease in operating expenses as a percent of sales is due to leverage from higher overall sales and focused cost control, partially offset by higher utilities due to the more severe winter weather.

Operating income for the quarter increased 38.4% to $21.4 million from $15.5 million in the fourth quarter of fiscal 2013. Interest expense was $2.4 million as compared to $3.1 million in the fourth quarter of fiscal 2013. 

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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!

Markets

DOW 17,340.78 -46.43 -0.27%
S&P 500 2,024.38 -5.17 -0.25%
NASDAQ 4,689.5240 +8.0270 0.17%

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