Friday, 30 November 2007

Planet Polishes Organic Apple With 130% Sales Growth

Planet Organic rang up impressive sales growth in Q1/F08 (Sept. 30) with a 130.2% increase over the same quarter of F07.
Consolidated quarterly sales in all its divisions rose to $25.7 million, versus $11.2 million for the same quarter last year.
Gross profit in the same quarter rose to $10. 5 million, compared to $4.5 million in the same period last year.
Earnings before interest, taxes, depreciation and amortization (EBITDA) also increased 47.1%, rising to $1.4 million over last year's same quarter of $927,000. Cash flow was $749,000 compared to $609,000 and net earnings were $460,000 versus $397,000.
In its high growth phase where Planet is building new stores to add to its existing retail space or is acquiring competitors, the costs of goods sold also increased from $6.8 million in last year's first quarter to $15.48 million in this year's first quarter.
The focus is primarily about gaining market share, Planet's CFO Darren Krissie said.
To view the quarterly summary and detailed breakdown please visit
and follow the links to Planet Organic filings.