Cara Operations Ltd. -- fourth quarter operating results up before restructuring charge.TORONTO--(BUSINESS WIRE)--May 11, 1995--Cara's Chairman & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , M. Bernard Syron, and President & COO, Gunter B. Otto, Thursday announced the sales and operating results for the fourth quarter and the year ending April 2. -0-
FOURTH QUARTER
(All numbers in thousands except earnings per share) April 2/95 April 3/94 System Sales (Incl. Franchisees) 410,878 403,650 Gross Revenue (Excl. Franchisees) 285,460 271,705 Net Profit Before Restructuring Charge 12,940 10,283 Earnings Per Share Before Restructuring Charge 11.0 cents 8.8 cents Net Profit After Restructuring Charge 5,098 10,283 Earnings Per Share After Restructuring Charge 4.3 cents 8.8 cents YEAR-TO-DATE (All numbers in thousands except earnings per share) April 2/95 April 3/94 System Sales (Incl. Franchisees) 1,335,688 1,252,792 Gross Revenue (Excl. Franchisees) 908,889 821,906 Net Profit Before Restructuring Charge 34,686 30,754 Earnings Per Share After Restructuring Charge 29.5 cents 26.2 cents Net Profit After Restructuring Charge 26,844 30,754 Earnings Per Share After Restructuring Charge 22.9 cents 26.2 cents-0- HIGHLIGHTS -- Gross revenues grew by 5 percent and net profits before restructuring charge restructuring charge The expense of reorganizing a company's operations. A restructuring charge is an infrequent expense that generally results from asset writedowns or facility closings. grew by 25 percent this quarter; 11 percent and 13 percent, respectively for the year before restructuring. -- Airport Services, Grand & Toy, Beaver Foods, and Summit Food Service Distributors made significant gains in both sales and profitability this past year. -- As previously announced in the third quarter press release, Cara recorded a restructuring charge to the fourth quarter earnings for the closure of one warehouse, 12 retail outlets, the reduction of approximately 120 staff at Grand & Toy, together with the closure of 8 Steak & Burger and 3 Swiss Chalet
Swiss Chalet is a chain of Canadian family restaurants originally founded in 1954 in Toronto, Ontario. U.S. restaurants. -- Cara Thursday declared a dividend of 4 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. to be paid on June 28 to Common and Class A shareholders of record on June 14. CARA OPERATIONS Cara Operations Limited is a Canadian company that provides catering services to airlines and operates several restaurant and coffee shop chains including: Harvey's, Swiss Chalet, Kelsey's , Milestones and Montana's. The company is based across from Lester B. LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . Business Profile Cara Operations Ltd. operates primarily in two industries: food service & hospitality and office products. Cara, through its businesses, has one primary focus -- delivering value to its stakeholders. Cara operates two brand-name restaurant chains The following is a list of restaurant chains. See also: Fast-food restaurant, Casual dining, List of reference tables. International
The Harvey's chain is located throughout Canada, and international expansion has commenced through the Czech Republic Czech Republic, Czech Česká Republika (2005 est. pop. 10,241,000), republic, 29,677 sq mi (78,864 sq km), central Europe. It is bordered by Slovakia on the east, Austria on the south, Germany on the west, and Poland on the north. . Swiss Chalet has restaurants across Canada Across Canada was an afternoon program that formerly aired on The Weather Network. The segment ran from early 1999 until mid 2002. The show ran from 3:00PM ET until 7:00 PM ET. and in certain Florida and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of State cities. Home delivery service for charbroiled chicken and ribs is offered through Swiss Chalet. Harvey's has the number two place in all of Canada in the provision of fast-food hamburgers; Swiss Chalet serves more roasted chicken in Canada than any other competitor. The Airport Services Division is the largest in its industry. It offers catering and ancillary services to major Canadian and international airlines through flight kitchens and commissaries across Canada. It also operates restaurants, gift stores and newsstands at airports and railway stations. Office products, including furniture and equipment, are offered through Grand & Toyretail stores and through Grand & Toy commercial distribution centres in many major cities in Canada This is a list of incorporated cities of Canada in alphabetical order categorized by province. More thorough lists of communities are available for each province. Significant cities . Grand & Toy is the premier, largest, and most recognizable supplier of office products in the country. Beaver Foods Ltd. is the country's largest, best-known, and most diverse Canadian-owned contract catering company. It provides catering services to corporate, government, educational, healthcare facilities and resource camps across Canada. Summit Food Distributors Inc. is a full-line wholesale food distribution company operating primarily in southern Ontario and the Ottawa Valley. Summit services a wide cross-section of clients including institutions, healthcare organizations, universities and restaurants. Summit is well-known for its timely delivery and excellent customer service. Cara's management and staff are committed to delivering value by meeting and exceeding expectations through the efficient delivery of the finest goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. . CONTACT: Cara Operations Ltd., Toronto Michael Nahirny, executive VP and CFO See Chief Financial Officer. , 416/969-2500 Fax: 416/969-2547 or Amin Pira, VP/Finance, 416/969-2502 |
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