Rocky Mountain Chocolate Factory Inc., an international franchiser of gourmet chocolate and self-serve frozen yogurt stores and manufacturer of premium chocolates and other confectionery products, today reported its operating results for the second quarter and first half of fiscal year 2012.
For the second quarter of fiscal 2012, the company reported total revenues of $7.6 million, an increase of 14.3 percent compared to revenues of approximately $6.6 million in the second quarter of fiscal 2011.
Retail sales increased 58.7 percent to $1.4 million for the second quarter of 2012 compared to $923,000 in the comparable quarter of 2011. Same-store sales at company-owned stores increased 4.1 percent in the second quarter of 2012 compared with the second quarter of 2011.
Rocky Mountain Chocolate posted a 3.4 percent decline in net income for the second quarter of 2012 at $912,000, or $0.15 basic earnings per share, compared to $944,000, or $0.14 basic earnings per share, reported in the second quarter of FY2011. Diluted earnings per share decreased 6.7 percent to $0.14 in the second quarter of 2012 compared to $0.15 in the second quarter of 2011.
Bryan Merryman, chief operating officer of Rocky Mountain Chocolate, said the company opened four company-owned ALY stores in the first six months and has signed leases for five additional stores that will begin opening in November of this year. The company also opened two franchised ALY during the second quarter, with a third in September.
Merryman said the company anticipates maintained growth in the recently opened stores.
“Although none of the ALY stores has been open long enough for us to evaluate their full-year operating metrics, we have been pleased to date with the sales generated by the company-owned and franchised ALY stores,” Merryman stated in the press release. “We believe our entry into the frozen self-serve yogurt market has the potential to significantly enhance shareholder value in coming years, as this new initiative complements our chocolate store business, leverages our three decades of experience in franchising and provides diversification of our revenue base.”
The company also posted results for the first six months of fiscal 2012, reporting that total revenues increased 13.8 percent to approximately $16.2 million, compared with revenues of approximately $14.2 million in the first half of 2011. Retail sales increased 63.7 percent to $2.8 million in the first half of 2012 compared to $1.7 million in the first half of 2011. Same-store retail sales at company-owned stores increased 4.1 percent in the first half of 2012 when compared with the first half of 2011. Net income for the first half of fiscal 2012 declined 2.3 percent to $1.8 million, or $0.30 basic earnings per share, compared to $1.8 million, or $0.31 basic earnings per share, in the first half of 2011. Diluted earnings per share of $0.29 in the first half of 2012 were 3.3 percent lower than the $0.30 per share reported in the first half of 2011.
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