Calloway's Nursery Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015
November 18, 2015 at 02:00 pm
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Calloway's Nursery Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported net revenue of $7,738,000 against $7,748,000 a year ago. Loss before provision for income taxes was $677,000 against $837,000 a year ago. Net loss was $442,000 against $560,000 a year ago. Basic and diluted loss per share was $0.05 against $0.07 a year ago. Earnings before income taxes, depreciation and amortization and net interest expense, a non-GAAP measure ("EBITDA"), was negative $0.5 million for 2015 compared to EBITDA of negative $0.6 million for 2014.
For the nine months, the company reported net revenue of $39,917,000 against $42,408,000 a year ago. Income before provision for income taxes was $3,034,000 against $4,126,000 a year ago. Net income was $1,965,000 against $2,722,000 a year ago. Basic and diluted earnings per share were $0.23 against $0.32 a year ago. Net cash provided by operating activities was $892,000 against $3,276,000 a year ago. Additions to property and equipment were $7,595,000 against $45,000 a year ago. EBITDA was $3.7 million for 2015 compared to EBITDA of $4.9 million for 2014.
Calloway's Nursery, Inc. is a garden center. The Company is engaged in the sales of living plants and related products, pottery, home decor and seasonal merchandise to individual consumers in its physical garden center retail stores. It offers landscape design services to individual consumers, landscape installation services to individual consumers and precision maintenance services to individual consumers. It operates over 27 retail garden centers in the two metropolitan areas in Texas: Dallas-Fort Worth (as Calloway's Nursery) and Houston (as Cornelius Nursery). Its products include birding, Cornelius home decor, fertilizers, garden tools, gift cards, insect and pest control, lawn decor, mosquito control solutions, pottery, soils and mulches and weed control and fungicide. Its plants and flowers include annuals, bulbs, dwarfs, edibles, ferns, grasses and others. Its subsidiary is Cornelius Nurseries, Inc., which owns the Cornelius Nursery retail store property in the Houston market.