BMTC GROUP INC. ANNOUNCES FINANCIAL RESULTS FOR ITS QUARTER ENDED SEPTEMBER
30TH, 2010

MONTREAL, Nov. 4 /CNW Telbec/ - BMTC Group inc. announced that for the nine month period ended September 30^th, 2010, the Company's revenue totalled $606,661,000 an increased of $12,537,000 compared to the $594,124,000 recorded in the corresponding 2009 period. For the nine month period ended September 30^th, 2010, the net income stood at $42,474,000 compared to $48,286,000, for the corresponding 2009 period.  The net earnings per basic share stood at $0.82 compared to $0.91 for the corresponding 2009 period. 

Results from the costing of options had the effect of reducing net basic earnings by $0.26 per share, compared to a decrease of $0.07 per basic share for the previous year. While the Company costs options as either an expense or revenue in the net earnings calculation, the Company believes it is preferable to inform readers of its financial statements of the impact of this element, which is outside the Company's control and which varies along with the course of the Company's share price in any given time period. An increase in the Company's share price incurs an expense, while a decrease in the Company's share price incurs revenue. Of particular concern is that the reader could be made to believe that the Company's profitability had risen in the context of a major decrease in the Company's share price. It is for this reason that the Company includes net earnings in absolute dollars and per-share dollars excluding this costing of options effect, even though doing so does not conform to GAAPs, it is therefore unlikely that we can compare them with the same type of measures presented by other issuers. It is worth noting that the Company offers a stock option program that allows the holder to exercise his options in lieu of cash therefore being one of few public companies to expense options on an ongoing basis.

The share repurchase program contributed in an increase of net earnings per basic share of $0.03 for the period.

Excluding all these effects, net earnings would have increased by $3,853,000 or $0.07 per basic share for the period.

The adjusted $3,853,000 increase in net earnings breaks down as follows:

	2010	2009
	($ in thousands)
Net Earnings	42,474	48,286
Cost of options (after-tax)	13,430	3,765
Adjusted Net Earnings	55,904	52,051
MINUS : Adjusted Net Earnings for the 2009 period	52,051
Increase 2010	3,853

This increase in adjusted and after tax operating earnings was spread out through the quarters as follows:

			($ in thousands)
		Increase retail operating earnings	Increase (decrease) investment income	Increase (decrease) adjusted operating earnings
1st quarter 2010		3,338	689	4,027
2nd quarter 2010		3,438	(4,382)	(944)
3rd quarter 2010		1,762	(992)	770
4th quarter 2010
	Total:	8,538	(4,685)	3,853

Annual Financial Information

	2009	2008	2007
	($ in thousands, except for per share amounts)
Revenue	$818,072	$856,229	$841,544
Net earnings	67,029	69,908	49,033
Total Assets	313,925	244,532	284,939
Net Earnings per share*
Basic       Diluted	$1.27       1.23	$1.18       1.14	$0.77       0.74
Dividends per share	0.19	0.18	0.15

* After taking into account the 2 for 1 stock split effect of April 6^th, 2010.

Quarterly Results (unaudited)

($ in thousands, except for per share amounts)

	Quarter Ended March 31			Quarter Ended June 30		Quarter Ended September 30		Quarter Ended December 31
	2010	2009		2010	2009	2010	2009	2009	2008
Revenue	$183,148	$168,805		$207,801	$204,956	$215,712	$220,363	$223,948	$216,848
Net earnings	3,615	3,084		17,914	19,685	20,945	25,517	18,743	21,856
Net Earnings per share*
Basic	0.07	0.06		0.34	0.36	0.41	0.49	0.36	0.40
Diluted	0.06	0.05		0.34	0.35	0.40	0.48	0.35	0.38

* After taking into account the 2 for 1 stock split effect of April 6^th, 2010.

As for the three-month period ended September 30^th, 2010 revenues from operations totaled $215,712,000, representing an decrease of 4,651,000$ over the $220,363,000 for the corresponding 2009 period. The Company's net income for the three-month period ended September 30^th, 2010, totaled $20,945,000, or $0.41 per basic share, compared with $25,517,000 or $0.49 per basic share for the corresponding 2009 period.  For the three-month period ended September 30^th 2010, the results from the variation of costing options had the effect of reducing the earnings per basic share by $0.13 compared with a decrease in earnings of $0.03 for the corresponding 2009 period. The share repurchase program contributed $0.01 to net per basic share earnings for the quarter ended September 30^th, 2010.

Excluding these effects, as indicated in the following table, net earnings would have increased by $770,000 or $0.01 per basic share for the three-month period ended September 30^th, 2010 compared to the corresponding period.

	2010	2009
	($ in thousands, except for per share amounts)
Net Earnings	20,945	25,517
Cost of options (after-tax)	6,672	1,330
Adjusted Net Earnings	27,617	26,847
MINUS : Adjusted Net Earnings for 2008 corresponding quarter	26,847
Increase 2010	770

During the nine month period ended September 30^th, 2010, options were exercised on three occasions. First, on February 25^th, 2010, the Company paid an amount before tax of $770,032 as cash award in lieu of shares, as a result of the exercise of 24,461 options. Secondly, on February 26^th, 2010, the Company paid an amount before tax of $9,360,944 as cash award in lieu of shares, as a result of the exercise of 297,597 options, thirdly on August 16^th, 2010, the Company paid an amount before tax of $353,260 as a cash award in lieu of shares as a result of the exercise of 15,884 options. On April 1^st, 2010, the Company granted 131,400 options at an exercised price of $35.70 for a period of 10 years, to its directors and management. On April 6^th, 2010, the Company issued 1,035,342 options following the 2 for 1 stock split. As at September 30^th, 2010, options for 2,054,800 Class A Subordinate Voting Shares, representing 4% of the Company's shares in circulation, therefore remain outstanding and 5,710,864 options, representing 11% of the Company's shares in circulation, may still be issued pursuant to the Plan. The outstanding options may be exercised at prices ranging between $3.60 and $17.85 per Class A Subordinate Voting Shares.

The number of outstanding shares of the Company changed during the nine month period ended September 30^th, 2010 due to the share redemption programs implemented in February 2010, the 2 for 1 stock split on April 6^th, 2010 and the conversion of Class B Multiple Voting Shares. Accordingly, 1,303,300 Class A Subordinate Voting Shares were redeemed by the Company and cancelled, while the Company issued 10,037,987 class B multiple voting shares and 15,962,013 Class A subordinate voting shares following the 2 for 1 stock split, and finally 17,720,892 Class B Multiple Voting Shares were converted into 17,720,892 Class A Subordinate Voting Shares. As a result of these changes, the Company had, as of September 30^th, 2010, 2,577,786 Class B Multiple Voting Shares and 48,261,714 Class A Subordinate Voting Shares outstanding.

A semi-annual eligible dividend of $0.12 per share has been declared to holders of Class A Subordinate voting shares and Class B Multiple voting shares of record as of the close of business on December 17^th, 2010,  which will be payable on January 3^rd, 2011.

BMTC Group Inc., which Class A Subordinate Voting Shares are listed on the Toronto Stock Exchange, is an important retailer of furniture, electronic goods and household appliances in the Montreal, Quebec City, Laval, Ste-Foy, Sherbrooke, Trois-Rivières, Rimouski, St-Georges, Rivière-du-Loup, Chicoutimi, and Gatineau regions through its affiliates Brault & Martineau Inc. and Ameublements Tanguay.

For further information:

Mr. Yves Des Groseillers
Chairman, President and
Chief Executive Officer
BMTC Group Inc.

[phone]