Big B, Inc. announces 55% rise in third quarter earnings; sales set record also.BESSEMER, Ala ALA aminolevulinic acid. Ala alanine. ala (a´lah) pl. a´lae [L.] a winglike process. .--(BUSINESS WIRE)--November 16, 1994--Big B, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). symbol:BIGB), announced today record sales and earnings for both the twelve and thirty-eight week periods ended October 22, 1994. Net earnings rose 55.2% for the twelve week, third quarter, reaching a record $1,563,000 as compared to $1,007,000 in the comparable prior year period. Earnings per share rose to $.10 from $.07. Total sales for the quarter rose to a record $150,143,000 up 12.3% from $133,670,000 in the prior year while comparable store sales increased by over 9%. For the thirty-eight week period net earnings reached a record $8,075,000 up 30.5% from $6,188,000 in 1993. Earnings per share rose to $.49 on a fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. basis from $.40 in the prior year. Sales for the period reached a record $475,421,000 up 14.3% from $415,767,000 previously. Anthony Bruno noted that these record results made sixteen consecutive quarters of both sales and earnings gains. Bolstered bol·ster n. A long narrow pillow or cushion. tr.v. bol·stered, bol·ster·ing, bol·sters 1. To support or prop up with or as if with a long narrow pillow or cushion. 2. by a strong economy he feels this positive momentum will continue throughout the remainder of the year. Bruno also noted that Big B's stock should benefit from increased visibility by its recent selection for inclusion in Standard and Poor's Noun 1. Standard and Poor's - a broadly based stock market index Standard and Poor's Index new small cap stock price index. Big B's Board of Directors expressed their confidence in Big B's future outlook by declaring a quarterly dividend of $.04 payable December 9, 1994, to shareholders of record on November 25, 1994. Big B opened three new stores during the quarter bringing to eleven the number of stores opened this year with seven additional stores planned for the fourth quarter. The new stores are located in Dempolois, Alabama Alabama, indigenous people of North America Alabama (ăləbăm`ə), indigenous people of North America whose language belongs to the Muskogean branch of the Hokan-Siouan linguistic stock (see Native American languages). ; Monticello, Georgia Monticello is the largest city and the county seat of Jasper County, Georgia GR6, United States. The population was 2,428 at the 2000 census. Geography Monticello is located at (33.303247, -83. ; and Chattanooga, Tennessee “Chattanooga” redirects here. For other uses, see Chattanooga (disambiguation). Chattanooga is the fourth-largest city in Tennessee (after Memphis, Nashville, and Knoxville), and the seat of Hamilton CountyGR6 . Big B operates 363 stores and is the nation's 11th largest drug chain with stores in Alabama (156), Georgia (155), Florida (24), Mississippi (7), and Tennessee (21). -0-
BIG B, INC.
Financial Results
Year To Date Twelve Weeks Ending
10/22/94 10/23/93 10/22/94 10/23/93
SALES $475,421,000 $415,767,000 $150,143,000 $133,670,000
NET INCOME $8,075,000 $6,188,000 $1,563,000 $1,007,000
NET EARNINGS PER SHARE
Fully Diluted $0.49 $0.40(a) $0.10 $0.07(a)
Primary $0.52 $0.40(a) $0.10 $0.07(a)
Shares Outstanding
Primary 15,572,350
Fully Diluted 18,911,006
(a) Adjusted to reflect 2:1 stock split effective 10-1-93.
CONTACT: Big B, Inc., Bessemer Mike Tortorice, 205/424-3421, ext: 213 |
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