- Net loss was $2.9 million or $0.13 per share. This compares to a net loss of $12.2 million or $0.54 per share in last year’s first quarter. Excluding the impact of impairment charges and loss on extinguishment of debt, the net loss for the first quarter of fiscal 2012 was $2.6 million or $0.11 per share (see reconciliation below).
- Adjusted EBITDA was $43.8 million, compared to $32.1 million a year ago.
- Comparable store merchandise revenue increased 2.0%.
- Merchandise gross margin was 33.2%, compared to 33.5% a year ago.
- Fuel gross profit was $55.9 million, compared to $50.7 million a year ago.
- Long-term debt was reduced by $44.1 million in the first quarter of fiscal 2012. Additionally, $33.9 million of the 3% convertible notes were repurchased in the second quarter of fiscal 2012 bringing the year-to-date total reduction to $78.0 million.
The Pantry, Inc. (NASDAQ: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced financial results for its fiscal first quarter ended December 29, 2011. First Quarter Summary: