Rocky Mountain Chocolate Factory Inc. (RMCF, Financial) filed Quarterly Report for the period ended 2008-11-30.
ROCKY MTN CHOCOLATE FACTORY manufactures an extensive line of premium chocolate candies and other confectionery products from its own proprietary recipes for sale at its franchised and Company-owned stores. As of April 30 1996 there were 41 Company-owned and 153 franchised ``Rocky Mountain Chocolate Factory`` stores operating in 40 states and Canada. Rocky Mountain Chocolate Factory Inc. has a market cap of $32.53 million; its shares were traded at around $5.894 with a P/E ratio of 8.4 and P/S ratio of 1.02. The dividend yield of Rocky Mountain Chocolate Factory Inc. stocks is 7.36%. Rocky Mountain Chocolate Factory Inc. had an annual average earning growth of 14.1% over the past 5 years.
Other, net of $(1,800) incurred in the third quarter of fiscal 2009 represents a decrease of $27,400 from the $25,600 realized in the third quarter of fiscal 2008 due to lower average outstanding cash balances and an increase in interest expense incurred related to use of the operating line of credit.
Basic earnings per share decreased 21.1% from $.57 for the nine months ended November 30, 2007 to $.45 for the nine months ended November 30, 2008. Revenues decreased 11.9% from $23.6 million for the nine months ended November 30, 2007 to $20.8 million in the nine months ended November 30, 2008. Operating income decreased 25.3% from $5.8 million in the nine months ended November 30, 2007 to $4.3 million in the nine months ended November 30, 2008. Net income decreased 26.2% from $3.6 million in the nine months ended November 30, 2007 to $2.7 million in the nine months ended November 30, 2008. The decrease in earnings per share, operating income, and net income for the first nine months of fiscal 2009 versus the same period in fiscal 2008 was due primarily to decreased specialty market sales and a decrease in same store pounds purchased by Franchise locations, partially offset by growth in the average number of franchise stores in operation.
Other, Net of $2,700 realized in the first nine months of fiscal 2009 represents a decrease of $81,400 from the $84,100 realized in the first nine months of fiscal 2008 due to lower average outstanding cash balances and an increase in interest expense incurred related to use of the operating line of credit.
As of November 30, 2008, working capital was $6.5 million, compared with $5.2 million as of February 29, 2008, an increase of $1.3 million. The increase in working capital was primarily due to operating results less the payment of $1.8 million in cash dividends.
Cash and cash equivalent balances decreased from $676,000 as of February 29, 2008 to $343,000 as of November 30, 2008 as a result of cash flows provided by operating activities less than cash flows used by financing and investing activities. The Companys current ratio was 2.83 to 1 at November 30, 2008 in comparison with 2.35 to 1 at February 29, 2008. The Company monitors current and anticipated future levels of cash and cash equivalents in relation to anticipated operating, financing and investing requirements.
Read the The complete ReportMore on RMCF:
Gurus buys and sells of RMCF
10-year financial history of RMCF.
Insider buys/sells of RMCF.
ROCKY MTN CHOCOLATE FACTORY manufactures an extensive line of premium chocolate candies and other confectionery products from its own proprietary recipes for sale at its franchised and Company-owned stores. As of April 30 1996 there were 41 Company-owned and 153 franchised ``Rocky Mountain Chocolate Factory`` stores operating in 40 states and Canada. Rocky Mountain Chocolate Factory Inc. has a market cap of $32.53 million; its shares were traded at around $5.894 with a P/E ratio of 8.4 and P/S ratio of 1.02. The dividend yield of Rocky Mountain Chocolate Factory Inc. stocks is 7.36%. Rocky Mountain Chocolate Factory Inc. had an annual average earning growth of 14.1% over the past 5 years.
Highlight of Business Operations:
Basic earnings per share decreased 30.0% from $.20 for the three months ended November 30, 2007 to $.14 for the three months ended November 30, 2008. Revenues decreased 15.1% from $8.8 million in the three months ended November 30, 2007 to $7.4 million in the three months ended November 30, 2008. Net income decreased 33.5% from $1.3 million in the three months ended November 30, 2007 to $842,000 in the three months ended November 30, 2008. The decrease in earnings per share, operating income, and net income for the three months ended November 30, 2008 versus the same period in fiscal 2008 was due primarily to a decrease in same store pounds purchased from the factory by franchised stores.Other, net of $(1,800) incurred in the third quarter of fiscal 2009 represents a decrease of $27,400 from the $25,600 realized in the third quarter of fiscal 2008 due to lower average outstanding cash balances and an increase in interest expense incurred related to use of the operating line of credit.
Basic earnings per share decreased 21.1% from $.57 for the nine months ended November 30, 2007 to $.45 for the nine months ended November 30, 2008. Revenues decreased 11.9% from $23.6 million for the nine months ended November 30, 2007 to $20.8 million in the nine months ended November 30, 2008. Operating income decreased 25.3% from $5.8 million in the nine months ended November 30, 2007 to $4.3 million in the nine months ended November 30, 2008. Net income decreased 26.2% from $3.6 million in the nine months ended November 30, 2007 to $2.7 million in the nine months ended November 30, 2008. The decrease in earnings per share, operating income, and net income for the first nine months of fiscal 2009 versus the same period in fiscal 2008 was due primarily to decreased specialty market sales and a decrease in same store pounds purchased by Franchise locations, partially offset by growth in the average number of franchise stores in operation.
Other, Net of $2,700 realized in the first nine months of fiscal 2009 represents a decrease of $81,400 from the $84,100 realized in the first nine months of fiscal 2008 due to lower average outstanding cash balances and an increase in interest expense incurred related to use of the operating line of credit.
As of November 30, 2008, working capital was $6.5 million, compared with $5.2 million as of February 29, 2008, an increase of $1.3 million. The increase in working capital was primarily due to operating results less the payment of $1.8 million in cash dividends.
Cash and cash equivalent balances decreased from $676,000 as of February 29, 2008 to $343,000 as of November 30, 2008 as a result of cash flows provided by operating activities less than cash flows used by financing and investing activities. The Companys current ratio was 2.83 to 1 at November 30, 2008 in comparison with 2.35 to 1 at February 29, 2008. The Company monitors current and anticipated future levels of cash and cash equivalents in relation to anticipated operating, financing and investing requirements.
Read the The complete ReportMore on RMCF:
Gurus buys and sells of RMCF
10-year financial history of RMCF.
Insider buys/sells of RMCF.
