EDMONTON, March 2, 2006 /PRNewswire-FirstCall via COMTEX/ -- PLANET ORGANIC HEALTH CORP (TSX Venture Exchange - POH) Canada's leading natural and organic foods supermarket chain presented their financial results for the quarter ending December 31, 2005. Net income increased to $498,966 versus a loss of ($69,393) for the same period last year; an increase of $568,359. Sales increased by $3.1 million to $9.1 million for the period; an increase of 51.7%. These increases were driven by further acquisitions and store expansions completed in fiscal 2005 and the first quarter of 2006 as well as same-store sales growth in the current quarter.
"This is our fourth consecutive profitable quarter," reported Darren Krissie, CFO. "We continue to search for additional growth opportunities which will add to our share value by driving both top-line and bottom-line growth."
"The 14 locations, which were added in the first quarter through the acquisition of Newfound Health, will continue to expand growth for the Sangster division of Planet Organic Health Corp," said Roy Sangster, President of the franchise division.
Driven by same store sales, the company's Planet Organic Market division saw revenues increase by 34.2% over last year. "Our impressive same store sales growth reinforces our plan to open additional stores in 2006," says Mark Craft, President of Planet Organic Markets. Craft said that the company continues to seek out further growth opportunities in British Columbia, Alberta and Ontario.
Planet Organic Market announced the signing of an offer to lease a second location in Calgary, Alberta in the first quarter.
EBITDA reported above is a non-GAAP measure and is earnings before interest, taxes, depreciation, amortization and stock-based compensation. System sales reported above is also a non-GAAP measure and is calculated by adding net sales from all franchise stores to net revenue.
For further financial information and a copy of our first quarter financials, please visit our investor link at www.planetorganichealthcorp.com/invest/howtoinvest.htm
ABOUT PLANET ORGANIC
Planet Organic Health Corp (POHC) is a natural products industry company, comprising manufacturing, distribution and retail. It operates natural food supermarkets in Edmonton, Victoria, Calgary, Port Coquitlam and Halifax under the Planet Organic Market banner. In addition the company operates 48 natural health outlets under the Sangster's Health Centre banner. Another POHC company, Trophic Canada is the country's leading manufacturer of natural supplements. Planet Organic's retail stores provide its customers with the convenience of one-stop shopping by offering a broad product selection in all merchandise categories. POHC's objective is to consolidate the fragmented natural and organic foods industry in Canada via acquisitions, mergers and new retail operations.
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