| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers J > Headlines for Jean Coutu Group (PJC), Inc. > News item |
Jean Coutu Group ends quarter with C$219.8 million of long-term debt
By Lisa Kerner
Charlotte, N.C., Jan. 7 - Jean Coutu Group (PJC), Inc. had long-term debt, including the current portion, of C$219.8 million at the Nov. 27 end of the third quarter of fiscal 2011, compared with C$199.9 million as of Feb. 27, 2010, chief financial officer Andre Belzile said Friday during the company's quarterly earnings conference call.
In July, the company reported long-term debt of C$184.8 million for the period ended May 30, 2010.
The ratio of long-term debt to operating income before amortization for the quarter was 0.77 times.
Jean Coutu generated cash flow from operating activities before net changes in non-cash asset and liability items of C$57.5 million in the fiscal third quarter. The company used C$10.9 million for financing activities during the quarter.
The company reported operating income before amortization of C$76.1 million on revenues of C$677.3 million for the fiscal third quarter. The figures compare with operating income before amortization of C$71.5 million on revenues of C$678.1 million in the same period of fiscal 2010.
Francois Jean Coutu, the company's chief executive officer, said during the call that the Longueuil, Quebec-based drugstore chain was satisfied with the results.
"Net earnings showed a solid increase in spite of a slight decrease of revenues compared to the same period last year when over-the-counter medication sales recorded a significant rise attributed to the concern of consumers confronted with the A (H1N1) flu outbreak," said Coutu.
"By picking up the pace of our expansion projects and implementing our business plan, we achieved the objectives we had set."
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.