Big B Inc. reports financial results; declares dividend.BESSEMER, Ala ALA aminolevulinic acid. Ala alanine. ala (a´lah) pl. a´lae [L.] a winglike process. .--(BUSINESS WIRE)--May 28, 1996--Big B Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). SYMBOL: BIGB) today reported that sales had reached a record $208,783,000, up 7% from $195,183,000 in the prior year. Comparable store sales rose over 5%. Net earnings declined to $1,789,000, or 10 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , from $4,807,000, or 28 cents per share, in the prior year. Pharmacy pharmacy, art of compounding and dispensing drugs and medication. The term is also applied to an establishment used for such purposes. Until modern times medication was prepared and dispensed by the physician himself. In the 18th cent. margins remained stable during the quarter as compared to year end percentages, and declined over 2% from the comparable first quarter of the prior year. Anthony Bruno, chairman, stated that the company has implemented a number of measures to adjust to the lower pharmacy gross margins and noted that stable pharmacy margins, continued sales improvement, and expense control during the year should lead to improved profitability as the year progresses. The Big B Inc.'s board of directors, expressing their continued confidence in the outlook for the fiscal year, approved a 5 cent quarterly dividend payable June 21, 1996, to shareholders of record on June 7, 1996. Since year end, Big B has opened four stores and closed one. The new stores are located in Atalla and Montgomery (2), Ala., and Atlanta. The closed store was located in Starkville, Miss. Over 25 new stores are planned for this fiscal year and will include openings in all five states in which the company operates. Big B operates 387 stores in the five states of 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). (173), Georgia Georgia, country, Asia Georgia (jôr`jə), Georgian Sakartvelo, Rus. Gruziya, officially Republic of Georgia, republic (2005 est. pop. 4,677,000), c.26,900 sq mi (69,700 sq km), in W Transcaucasia. (162), Florida (23), Mississippi (6), Tennessee (23). CONTACT: Big B Inc., Bessemer Mike Tortorice, 205/424-3421 |
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