This Day On The Street
Continue to site
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

Monro Muffler Brake, Inc. Announces Record First Quarter Fiscal 2015 Financial Results

~ First Quarter Sales Up 5.5% to a Record $217.5 Million ~ ~ First Quarter Net Income Up 25% to a Record $16.9 Million ~ ~ First Quarter EPS Increases 24% to a Record $0.52 versus $0.42 for the Same Period Last Year ~ ~ Signs Definitive Agreement to Acquire 35 Stores in Florida ~

ROCHESTER, N.Y., July 24, 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 first quarter ended June 28, 2014.

First Quarter Results

Sales for the first quarter of fiscal 2015 increased 5.5% to $217.5 million as compared to $206.2 million for the first quarter of fiscal 2014. The total sales increase for the first quarter of $11.3 million was due to an increase in sales from new stores of $11.2 million, including sales from recently acquired stores of $9.9 million, and a comparable store sales increase of approximately 1%. Comparable store sales increased approximately 9% for brakes, 8% for alignments, 6% for front end/shocks, and 1% for exhaust, while comparable store sales were slightly positive for maintenance services and decreased approximately 3% for tires.

Gross margin increased to 41.4% in the first quarter from 38.3% in the prior year, largely due to the benefit of lower material costs. Total operating expenses were $60.6 million, or 27.9% of sales, as compared with $55.8 million, or 27.1% of sales, for the same period of the prior year. The increase in operating expenses reflects a full quarter of costs for fiscal 2014 acquired stores and the transaction costs associated with Monro's fiscal 2015 acquisitions.

Operating income for the quarter increased 27.3% to $29.4 million from $23.1 million in the first quarter of fiscal 2014. Interest expense was $2.1 million as compared to $1.8 million in the first quarter of fiscal 2014.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr 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

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%
TSLA $151.04 0.00%
YHOO $27.04 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs