HOUSTON -- Randalls Food Markets here said sales and cash flow increased and earnings were positive during the third quarter and 40 weeks ended April 4.
; the company did not release same-store sales for the 40-week period but observers estimated it at 2.5%. Earnings before interest, taxes, depreciation and amortization increased to $28.3 million, or 5.1% of total revenues, compared with $2.6 million, or 0.5% of sales, for the quarter; for the 40 weeks EBITDA was $94 million, or 5.1% of sales, compared with $58 million, or 3.2% of sales, a year ago. The company reported positive earnings in both periods, compared with losses in the comparable year-ago periods.
Randall Onstead, president and chief executive officer of the 114-store chain, said the company's improved performance was the result of its marketing and store remodeling programs and continued progress in managing expenses.
3RD-QUARTER RESULTS
Qtr Ended 4/4/98 4/5/97
Sales $552.5 million $545.5 million
Change + 1.3%
Same-store + 3.9%
Net Income $4.9 million ($11.2 million)
Inc/share N/A N/A
40 Weeks 1997 1996
Sales $1.85 billion $1.8 billion
Change + 263%
Same-store + 2.5% (estimate)
Net Income $16.5 million ($5.4 million)
Inc/share N/A N/A
The net loss, as well as EBITDA, for the third quarter of 1997 included aggregate pre-tax charges of $19.2 million, consisting primarily of charges for settlement of litigation, severance and other items.
