New Look Vision Group Reports Record Results for the Fourth Quarter and Year End Fiscal 2018
New Look Vision reported record results for the fourth quarter and yearly periods ended December 29, 2018.
Q4 2018 Financial and Operational Highlights
- Revenues increased by 5.4% over last year to $71.1 million. This results mainly from the impact of the acquisition of Iris, as well as comparable store sales growth.
- Comparable store sales orders were up by 0.8%, compared to the fourth quarter of last year. This marks the 18th consecutive quarter of comparable store sales growth.
- Adjusted EBITDA reached $13.6 million, an increase of 8.3% over last year and increased 6.1% on a per diluted share basis to $0.87.
- Adjusted cash flows from operating activities were $13.3 million, an increase of 9.3% over last year and an increase of 6.3% on a per diluted share basis to $0.85.
- Net earnings attributable to shareholders reached $3.1 million, compared to $2.8 million last year, the increase being attributable to higher EBITDA, partially offset by higher depreciation, financial expenses and income taxes. Net earnings on a per diluted share basis were $0.20, compared to $0.18 last year, an increase of 11.1%.
- Adjusted net earnings attributed to shareholders (defined as net earnings adjusted to remove the impact of acquisition-related costs, equity-based compensation and other non-comparable costs) were $3.7 million, compared to $3.5 million for the same quarter last year. Adjusted net earnings per diluted share were $0.24, an increase of 4.3% over the same quarter last year.
- The financial performance of the Group allowed it to maintain its quarterly payments of dividends to shareholders of $0.15 per share.
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