SPoT Coffee Fiscal Second Quarter 2012 Results: 25% Increase in Sales & 24% Increase in Gross Profit
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 08/13/12 -- SPOT COFFEE (CANADA) LTD. (TSX VENTURE: SPP) ("SPoT" or the "Company") released its financial results for the Company's fiscal second quarter ended June 30, 2012. 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.
Fiscal Second Quarter 2012 Highlights
SPoT Benefited From the Following Key Factors Over the Past Quarter
Q3 & Q4 2012 Targets
SPoT Coffee is pleased to announce its fiscal Q3 and Q4 operational targets as follows:
SPoT has identified new corporate locations consistent with SPoT's location and demographic criteria and is continuing to strategically grow across Western New York and Southern Ontario. The Company's previously announced 8th, 9th, 10th and 11th corporate cafes are under construction and are expected to open as follows: 8th & 9th cafe to open September 2012, 10th cafe to open in December 2012 and 11th cafe to open Q1 2013.
Commenting on the second quarter results, SPoT Coffee President, Anton Ayoub commented, "We are benefiting from continued enhancements to the overall SPoT Coffee portfolio of cafes and continue to focus on both the expansion of new cafes as well as the optimization of the current portfolio. The existing portfolio of cafes continues to mature and show outstanding results, allowing us to move aggressively forward with the construction of new cafes and regional licensing transactions. We are extremely close to generating free cash flow at the corporate level and are excited to get closer to achieving corporate profitability."
Q2 Financial Highlights
ABOUT SPOT COFFEE
SPoT Coffee trades on the TSX Venture Exchange under the symbol SPP. SPoT designs, builds and operates community oriented cafes that provides its customers with the highest quality service, signature made-to order meals and the world's finest in-house roasted gourmet coffee. Each SPoT cafe is distinctively designed to meet the uniqueness of the local neighborhood, creating a warm and friendly gathering place for the community. SPoT's commercial business focuses on retail stores, business accounts and third party resellers such as universities and hospitals.
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.
David Freeman
Corporate Development & Shareholder Communications
(416) 368-2220
SPoT Coffee (Canada) Ltd.
Alex Gress
Director
(416) 368-2220
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Datum: 13.08.2012 - 14:57 Uhr
Sprache: Deutsch
News-ID 1141853
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Beverages
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