MTY Food Group Inc. reports third quarter results

TSX Trading Symbol: "MTY"

MONTREAL, Oct. 4, 2012 /CNW Telbec/ - MTY Food Group Inc. ("MTY" or the "Company") (TSX: MTY), franchisor and operator of a multi-banner portfolio of quick service restaurants, reports today its operating results for the third quarter of its 2012 fiscal year.

Highlights of the third quarter:

• Earnings per share increases by 39% over Q3 of 2011, reaching $0.32
• System sales advance 33%, to $179.7 million
• Operations generate $10.5 million in cash flows
• Cash on hand at quarter end of $30.7 million
• EBITDA increases by 43% over the same period last year
• Revenues grow to $24.2 million, from $19.9 million in the third quarter of 2011
• Store count at the end of the quarter was reduced by 30 stores, at 2,208
• Same store sales decline by 0.56% during the quarter but remains positive at 1.79% for the nine-month period

In thousands of $
	3 months ended August 31, 2012	3 months ended August 31, 2011	Variance
Revenue	24,239	19,852	22%
Operating expenses	14,303	12,761	12%
EBITDA	9,936	7,041	41%
Income before taxes	8,426	6,143	37%
Net income attributable to shareholders	6,129	4,388	40%
Basic and diluted EPS	$0.32	$0.23
Cash flows from operations	10,492	6,923	52%

Note: These are financial highlights only. Management's Discussion and Analysis, the unaudited condensed interim consolidated financial statements and notes thereto for the quarter ended August 31, 2012 will be available on the SEDAR website at www.sedar.com and on the Company's website at www.mtygroup.com.

Certain information in this News Release may constitute "forward-looking" information that involves known and unknown risks, uncertainties, future expectations and other factors which may cause the actual results, performance or achievements of the Company or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. When used in this News Release, this information may include words such as "anticipate", "estimate", "may", "will", "expect", "believe", "plan" and other terminology. This information reflects current expectations regarding future events and operating performance and speaks only as of the date of this News Release. Except as required by law, we assume no obligation to update or revise forward-looking information to reflect new events or circumstances. Additional information on the Company is available on SEDAR at www.sedar.com.

On Behalf of the Board of Directors of
MTY Food Group Inc.

Per: _______________________________
Stanley Ma, Chairman, President & CEO

 

SOURCE: MTY FOOD GROUP INC.

Jean-Francois Dube, Investor Relations at 1-450-226-8475 or by email at [email protected] or visits our website: www.mtygroup.com or visit SEDAR's website at www.sedar.com under the Company's name.