Historic Results for the 3rd Quarter - The Jean Coutu Group's Net Profit Soars by Nearly 20 Percent.LONGUEUIL Longueuil, city (1991 pop. 129,874), S Que., Canada, on the St. Lawrence River opposite Montreal. It is a residential and industrial suburb of Montreal. It annexed Montreal South in 1961, and merged with the city of Jacques-Cartier in 1969. , QUEBEC--(BUSINESS WIRE)--April 1, 1997--PJC INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (ME;TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :PJC PJC Permanent Joint Council (forum for NATA-Russia Consultations) PJC Prayer for Judgment Continued (legal term) PJC Pioneer Junior College (Singapore) .A) The Jean Coutu Group The Jean Coutu Group (PJC) Inc. TSX: PJC is a Canadian company headquartered in Longueuil, Quebec with its Jean Coutu Group (PJC) U.S.A. Inc. in Warwick, Rhode Island. (PJC) Inc.'s Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. and American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of operations recorded their best performance ever during the third quarter of the 1996-97 fiscal year, for the period ended February February: see month. 28, 1997. As such , the Group posted a net profit of $16,299,000, a nearly 20 percent increase over last year. Per share earnings rose to $0.31, compared to $0.26 during the same period last year. Year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. results for the first three quarters of the 1996-97 fiscal year show a net profit of $42,632,000, up 17 percent over the $36,443,000 posted during the same period last year. Per share earnings for this period reached $0.81, compared to $0.69 in 1995-96. At the close of the third quarter, The Jean Coutu Group (PJC) Inc.'s sales totaled $428,249,000, a more than 5 percent increase over the previous year. For the first nine months of the fiscal exercise, the Group's sales reached $1.3 billion. "This historic performance shown by our network of outlets in Canada and the United States The United States and Canada share a unique legal relationship. U.S. law looks northward with a mixture of optimism and cooperation, viewing Canada as an integral part of U.S. economic and environmental policy. marked our third quarter. However, the conclusion, during this quarter, of a strategic alliance between The Jean Coutu Group and Uniprix for the acquisition of all the shares of Cumberland Cumberland, former county, England Cumberland, former county, N England. In 1974, Cumberland became part of the nonmetropolitan county of Cumbria. Cumberland, river, United States Cumberland, will particularly show results during our next fiscal year 1997-98. We are moving ahead with the gradual consolidation of the new outlets under the Jean Coutu Jean Coutu could be:
The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , Francois J. Coutu Coutu is a surname. Notable people called "Coutu" include:
Also during the third quarter of the current fiscal year, The Jean Coutu Group officially inaugurated the newest phase of its distribution centre, an addition that will allow the centre to figure among the largest of its king in Canada, with a total surface area of 420 000 square-feet. Two new Jean Coutu outlets were also inaugurated in Saint-Nicolas and Magog. The Jean Coutu Group (PJC) inc. Board of Directors decided to increase the quarterly dividend up to 33 1/3 percent reaching $0.04 per share compared to $0.03 for the last quarter. This dividend will be paid on May 22, 1997, to all holders of Category A subordinate voting share and to all holders of Category B shares listed in the Company's register as May 8, 1997. The largest 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. chain in Quebec and the ninth largest in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , The Jean Coutu Group employs nearly 10,000 people in its network of more than 250 franchises across Quebec, New Brunswick New Brunswick, province, Canada New Brunswick, province (2001 pop. 729,498), 28,345 sq mi (73,433 sq km), including 519 sq mi (1,345 sq km) of water surface, E Canada. and Ontario, and operates close to 240 corporative cor·po·ra·tive adj. 1. Of, relating to, or associated with a corporation. 2. Of or relating to a government or political system in which the principal economic functions, such as banking, industry, labor, and government, are pharmacies This article is a list of major pharmacies (also known as chemists and drugstores) by country. Australia Pharmacies in Australia are mostly independently-owned by pharmacists, often operated as franchises of retail brands offered by the three major in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . -0-
THE JEAN COUTU GROUP (PJC) INC.
CONSOLIDATED EARNINGS (UNAUDITED)
9 MONTH PERIODS ENDED FEBRUARY 28, 1997 AND 1996
(thousands of dollars except for per share data)
1997 1996
__________ __________
Sales and other revenues
Canada $646,393 $611,876
United States 626,719 590,379
__________ __________
1,273,112 1,202,255
__________ __________
Expenses
Cost of goods sold, general and
operating expenses
Canada 582,847 552,642
United States 596,107 567,186
__________ __________
1,178,954 1,119,828
Depreciation and amortization 19,698 17,052
Interest on long-term debt 3,619 6,312
Other interest 5,270 5,338
__________ __________
1,207,541 1,148,530
__________ __________
Earnings before income taxes 65,571 53,725
Income taxes 22,939 17,282
__________ __________
Net earnings $42,632 $36,443
__________ __________
Earnings and fully diluted
earnings per share $0.81 $0.69
__________ __________
__________ __________
THE JEAN COUTU GROUP (PJC) INC.
CONSOLIDATED CHANGES IN FINANCIAL POSITION (UNAUDITED)
9 MONTH PERIODS ENDED FEBRUARY 28, 1997 and 1996
(thousands of dollards)
1997 1996
_______________
Operating Activities
Net earnings 42,632 36,443
Items not involving cash:
Depreciation and amortization 19,908 17,240
Others (148) (54)
______ ______
62,392 53,629
Changes in non-cash working capital items
and long-term receivables from franchisees (18,387) (22,674)
Foreign currency translation adjustments 39 (2,292)
______ ______
44,044 28,663
______ ______
Financing Activities
Long-term debt 22,140 1,500
Repayment of long-term debt (16,065) (53,485)
Issuance of capital stock 158 231
______ ______
6,233 (51,754)
______ ______
Investing Activities
Acquistiion of investments (400) (61)
Proceeds from disposal of investments 65 473
Loan and advances (980) (1,503)
Receipts on loan and advances 1,867 2,188
Purchase of fixed assets and real estate (27,985) (18,218)
Proceeds from disposal of fixed assets
and real estate 1,161 99
Goodwill (7,179) (2,164)
Others (5,856) (222)
______ ______
(39,307) (19,408)
______ _____
Other Activity
Dividends (4,735) (4,734)
_____ _____
Decrease in cash and equivalents 6,235 (47,233)
Cash and equivalents position at beginning (95,785) (55,493)
______ ______
Cash and cash equivalents position at end (89,550) (102,726)
______ ______
______ ______
THE JEAN COUTU GROUP (PJC) INC.
CONSOLIDATED BALANCE SHEET (unaudited)
February 28, 1997 and 1996
(thousands of dollards)
1997 1996
________ ________
Assets
Current assets 336,955 335,345
Fixed assets and real estate 242,129 205,941
Other assets 97,652 92,993
________ ________
676,736 634,279
________ ________
________ ________
Liabilities
Current liabilities 230,236 250,393
Long-term debt 82,520 66,069
Other liabilities 107
________ ________
312,863 316,462
Shareholders' equity 363,873 317,817
_______ _______
676,736 634,279
________ ________
________ ________
CONTACT: The Jean Coutu Group (PJC) Inc. Mylene Godin, 514/646-9611 ext. 307 |
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