SPoT Coffee Third Quarter 2011 Results: Reports 22% Increase to Gross Profit and 13% Sales Increase
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 11/22/11 -- SPOT COFFEE (CANADA) LTD. (TSX VENTURE: SPP) ("SPoT" or the "Company") released its financial results for the Company's third quarter ended September 30, 2011. Complete financial statements and Management's Discussion and Analysis have been filed for public review at and are available on the Company's website at . All dollar values expressed in Canadian dollars unless otherwise stated.
Third Quarter 2011 Highlights
"SPoT's third quarter results continue to demonstrate the strength in our underlying operations and reflect the positive results of the Company's collective efforts to optimize our daily operating performance. We have built a strong, controlled, and systematic platform that now enables us to expand more aggressively into our targeted new locations," said Raymond Stapell, President and CEO of SPoT.
As previously reported, SPoT opened its seventh operating cafe on November 11th, SPoT Hertel, located in Western New York. While the benefit of SPoT Hertel will begin to be accounted for during this fourth quarter, preliminary performance of SPoT Hertel can be described as "highly favorable". The construction of cafe eight (SPoT Park Place) and cafe nine (SPoT Transit Road) is expected to commence during this January 2012.
Currently the Company is identifying new locations consistent with SPoT's location and demographic criteria. The Company reiterates that ample opportunities exist that may facilitate accelerated growth ahead of the Company's expansion schedule which currently targets at a minimum three to four new operating cafes for 2012.
ABOUT SPOT
SPoT () designs, builds and operates community-oriented cafes that provide its customers from every lifestyle and culture with the highest quality service, signature light meals and in- house roasted gourmet coffee. The current SPoT management team and directors have been successfully operating company-owned cafes since 2004.
Each SPoT cafe is a popular and friendly gathering place for its community where specialty coffee, upscale beverages, fresh baked goods, signature sandwiches, soups, salads and gourmet pizza, cakes, pastries and home baked goods are offered and enjoyed by its patrons in a warm, friendly and home-like environment.
The Company currently operates seven cafes that range in size from 2,000 to in excess of 4,000 sq. ft. with two more cafes currently under development. Spot is currently evaluating several locations as part of its North American expansion.
Unlike other conventional gourmet coffee houses and quick service restaurants that are built on uniformity of product and style, each SPoT cafe maintains several unique and key features, including:
Forward Looking Statements
Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Except as required by applicable securities requirements, the Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.
Contacts:
SPoT Coffee (Canada) Ltd.
Lindsay Cross
Investor Relations Manager
(416) 368-2220
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Datum: 22.11.2011 - 14:04 Uhr
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