Welcome!

Microsoft Cloud Authors: Pat Romanski, Elizabeth White, Liz McMillan, Mihai Corbuleac, David Bermingham

News Feed Item

Stater's Sales, Increased Customers And Reduced Interest Expense Improve Earnings In Fiscal 2012

SAN BERNARDINO, Calif., Dec. 18, 2012 /PRNewswire/ -- Today, Jack H. Brown, Chairman, President and Chief Executive Officer of Stater Bros. Holdings Inc. announced sales and earnings for the fifty-three week fiscal year ended September 30, 2012.

(Logo: http://photos.prnewswire.com/prnh/20121101/LA04466LOGO)

The Company's fourth quarter and fiscal 2012 sales are affected by the fourth quarter being a fourteen week quarter and the fiscal year being a fifty-three week year versus a normal thirteen week quarter and fifty-two week year.  Fiscal 2012 sales were $3.9 billion.  The extra week in fiscal 2012 added $67.8 million or 1.83% to sales.  Normalized thirteen week 2012 fourth quarter sales were $957.2 million compared to fourth quarter sales in fiscal 2011 of $941.8 million an increase of $15.4 million.  Normalized fifty-two week fiscal 2012 sales were $3.8 billion compared to fiscal 2011 sales of $3.7 billion an increase of $112.1 million. Like store sales increased 1.64% in the fourth quarter and 3.04% in fiscal 2012 over the same periods of the prior year.

The Company reported net income of $5.0 million the fourth quarter of fiscal 2012 and $5.6 million in the fourth quarter of fiscal 2011.  Net income was $37.7 million and $26.3 million for fiscal 2012 and fiscal 2011, respectively.  The Company's fiscal 2012 net income was favorably benefited by a reduction in pre-tax interest expense of $9.4 million compared to fiscal 2011.

Brown said, "We are pleased with our fiscal 2012 results.  We increased sales, increased customers and reduced our interest expense by $9.4 million.  Our success in the current year is due to our valued customers responding favorably to our marketing efforts which have emphasized quality and value and has attracted new customers in fiscal 2012.  Our results reflect the benefit of our debt refinancing last year which has significantly reduced our interest expense.  The reduction in interest expense is just one measure that we've taken to reduce cost which has allowed us to keep prices low to our customers.  During these tough economic times, low prices and value are even more important as our customers continue to face challenges to their home budgets."

Stater Bros. is the largest privately owned Supermarket Chain in Southern California and the largest private employer in both San Bernardino County and Riverside County, with annual sales in 2011 of $3.7 billion.  The Company currently operates 167 Supermarkets, and there are over 18,000 members of the Stater Bros. Supermarket Family. 

STATER BROS ... PROUDLY SERVING SOUTHERN CALIFORNIA FAMILIES FOR 76 YEARS

CONTACT: Dave Harris, Senior Vice President Finance, CFO, +1-909-733-5080

STATER BROS. HOLDINGS INC.

Condensed Consolidated Statements of Income

(In thousands)

Unaudited












13 Weeks


14 Weeks


52 Weeks


53 Weeks



Ended


Ended


Ended


Ended



09/25/11


09/30/12


09/25/11


09/30/12

Sales

$    941,846


$ 1,025,044


$ 3,693,306


$ 3,873,203










Gross profit

255,666


268,019


990,892


1,039,608










Operating expenses:









Selling, general and 









    administrative expenses

220,615


234,710


841,527


882,740


Depreciation and amortization

12,067


12,370


48,413


46,503

Total operating expenses

232,682


247,080


889,940


929,243










Operating profit

22,984


20,939


100,952


110,365










Interest income

20


27


708


116

Interest expense

(11,859)


(12,568)


(57,296)


(47,882)

Other income, net

(11)


40


82


978










Income before income taxes

11,134


8,438


44,446


63,577










Income taxes

4,668


3,450


18,156


25,868










Net income

$        6,466


$        4,988


$      26,290


$      37,709

 

STATER BROS. HOLDINGS INC.

Condensed Consolidated Balance Sheets

(In thousands)

Unaudited










09/25/11


09/30/12

Assets





Current assets






Cash and cash equivalents

$    235,784


$    219,800



Restricted cash

3,121


-



Receivables, net

32,166


47,902



Inventories

231,121


229,117



Other

43,299


46,340








Total current assets

545,491


543,159








Property and equipment, net

625,423


607,504








Deferred debt issuance costs, net

10,690


8,397


Other

51,163


49,262







Total assets

$ 1,232,767


$ 1,208,322













Liabilities and stockholder's equity





Current liabilities






Accounts payable

$    135,911


$    147,544



Accrued expenses and other liabilities

169,646


165,951



Current portion of capital lease obligations

1,107


1,242



Current portion of long-term debt

38,798


11,419








Total current liabilities

345,462


326,156








Long-term debt, less current portion

642,577


633,521


Capital lease obligations, less current portion

1,099


1,186


Other long-term liabilities

162,865


164,837








Total stockholder's equity

80,764


82,622







Total liabilities and stockholder's equity

$ 1,232,767


$ 1,208,322

 

SOURCE Stater Bros. Holdings Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm ...
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
"We work in the area of Big Data analytics and Big Data analytics is a very crowded space - you have Hadoop, ETL, warehousing, visualization and there's a lot of effort trying to get these tools to talk to each other," explained Mukund Deshpande, head of the Analytics practice at Accelerite, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
The idea of comparing data in motion (at the sensor level) to data at rest (in a Big Data server warehouse) with predictive analytics in the cloud is very appealing to the industrial IoT sector. The problem Big Data vendors have, however, is access to that data in motion at the sensor location. In his session at @ThingsExpo, Scott Allen, CMO of FreeWave, discussed how as IoT is increasingly adopted by industrial markets, there is going to be an increased demand for sensor data from the outermos...
UAS, drones or unmanned aircraft, no matter what you call them — this was their week. Our news stream was flooded with updates on the newly announced rules and regulations for commercial UAS from the FAA. So, naturally we have dedicated this week’s top news round up to highlight some of our favorite UAS stories.
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2016 Silicon Valley. The 6thInternet of @ThingsExpo will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
CenturyLink has announced that application server solutions from GENBAND are now available as part of CenturyLink’s Networx contracts. The General Services Administration (GSA)’s Networx program includes the largest telecommunications contract vehicles ever awarded by the federal government. CenturyLink recently secured an extension through spring 2020 of its offerings available to federal government agencies via GSA’s Networx Universal and Enterprise contracts. GENBAND’s EXPERiUS™ Application...
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
When people aren’t talking about VMs and containers, they’re talking about serverless architecture. Serverless is about no maintenance. It means you are not worried about low-level infrastructural and operational details. An event-driven serverless platform is a great use case for IoT. In his session at @ThingsExpo, Animesh Singh, an STSM and Lead for IBM Cloud Platform and Infrastructure, will detail how to build a distributed serverless, polyglot, microservices framework using open source tec...
Apixio Inc. has raised $19.3 million in Series D venture capital funding led by SSM Partners with participation from First Analysis, Bain Capital Ventures and Apixio’s largest angel investor. Apixio will dedicate the proceeds toward advancing and scaling products powered by its cognitive computing platform, further enabling insights for optimal patient care. The Series D funding comes as Apixio experiences strong momentum and increasing demand for its HCC Profiler solution, which mines unstruc...
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discussed how businesses can gain an edge over competitors by empowering consumers to take control through IoT. He cited examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He also highlighted how IoT can revitalize and restore outdated business models, making them profitable ...
Presidio has received the 2015 EMC Partner Services Quality Award from EMC Corporation for achieving outstanding service excellence and customer satisfaction as measured by the EMC Partner Services Quality (PSQ) program. Presidio was also honored as the 2015 EMC Americas Marketing Excellence Partner of the Year and 2015 Mid-Market East Partner of the Year. The EMC PSQ program is a project-specific survey program designed for partners with Service Partner designations to solicit customer feedbac...
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often ...
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...