New Look Vision Group Reports Record Results for the Fourth Quarter and Year End Fiscal 2018
Wednesday, March 20 2019 | 12 h 11 min | Financial News, Press Release
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.
Click HERE for the full press release.