Mississauga, Ont. – The Second Cup Ltd. reported improved financial results for the fourth quarter ended Dec. 31, 2016.
- EBITDA of $667,000 compared with $555,000 in Q4 2015. EBITDA improved progressively each quarter of 2016
- Net Income of $147,000 or $0.01 per share for the quarter compared with a Net Income of $94,000 or $0.01 per share in Q4 of 2015
- Full year Net Loss of $975,000 or $0.08 per share compared with a Net Loss of $1,153,000 or $0.09 per share in the prior year
- Q4 same store sales of -1.0% or +0.3% excluding Alberta
- Completed $8 million refinancing with SPE Finance LLC
"In the fourth quarter, we were pleased to successfully complete our refinancing and deliver another quarter of positive earnings," said Alix Box
, the company's president and chief executive officer. "We remain focused on driving store sales and improving profitability for franchisees. We are testing some exciting ideas in several cafes now and are optimistic about the impact on sales as they are rolled out across the country."
The full report is available here