EDMONTON, Dec. 1 PlanetOrganic-Q1-rslt
EDMONTON, Dec. 1 /PRNewswire-FirstCall/ - Planet Organic Health Corp (TSX Venture Exchange - POH), Canada's leading natural products retailer announces their financial results for the quarter ended September 30, 2008. Sales for the quarter were $30.0 million compared to $25.7 million in 2007, an increase of 16.7%. EBITDASX was $1.2 million compared to $1.8 million in 2007, a decrease of $0.6 million, and cash flow from operations increased by $0.15 million over 2007.
Summary of Q1 Fiscal 2009 Financial Results
Fiscal 2009Fiscal 2008
Sales $29,959,883$25,742,373
Cost of goods sold$18,495,218$15,484,307
Gross profit $11,732,094$10,474,871
Operating expenses$12,700,920 $9,723,403
EBITDASX $1,241,650 $1,854,743
(Loss) income before tax($968,826) $751,468
Tax (recovery) ($267,400) $174,000
Net (loss) income ($701,426) $577,468
Cash flow from operations $2,063,848 $1,914,811
EBITDASX reported above is a non-GAAP measure and is earnings before
interest, taxes, depreciation, amortization and stock-based compensation
and foreign currency translation.
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For further financial information and a copy of our annual report, please
visit our corporate website at www.planetorganichealthcorp.com
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About Planet Organic Health Corp.
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Planet Organic Health Corp. (TSX-V: POH) is a natural products industry company, comprising manufacturing, distribution and retail. Planet Organic is listed on the TSX Venture Exchange as a Tier One company. Planet Organic operates nine natural food supermarkets throughout Canada under the Planet Organic Market banner and eleven natural food supermarkets in the U.S. under the Mrs Green's Natural Markets banner. The Company also operates 47 natural health outlets under the Sangster's Health Centre banner and nine natural health outlets under the Healthy's and Planet Organic Living banners. Another Planet Organic division, Trophic Canada, is the country's leading manufacturer of natural supplements. The Company has a total of 65 stores throughout Canada and eleven in the U.S. and has more than 650 employees.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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Forward-Looking Statements
Certain information included herein is forward-looking. Forward-looking statements include, without limitation, statements regarding the future financial position, business strategy, budgets, projected costs, capital expenditures, financial results, taxes and plans and objectives of or involving Planet. Many of these statements can be identified by looking for words such as "believe", "expects", "expected", "will", "intends", "projects", "anticipates", "estimates", "continues", or similar words and include but are not limited to, statements regarding the accretive effects of the acquisition and the anticipated results and expected benefits of the acquisition upon closing thereof. Planet Organic believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties some of which are described in Planet Organic's continuous disclosure documents. Such forward-looking statements necessarily involve known and unknown risks and uncertainties and other factors, which may cause Planet Organic's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general economic, market and business conditions; industry capacity; competitive action by other companies; refining and marketing margins; the ability of suppliers to meet commitments; actions by governmental authorities including increases in taxes; changes in environmental and other regulations; and other factors, many of which are beyond the control of Planet Organic. Any forward-looking statements are made as of the date hereof and Planet Organic does not undertake any obligation, except as required under applicable law, to publicly update or revise such statements to reflect new information, subsequent or otherwise.
SOURCE Planet Organic Health Corp.
