2010 FIRST QUARTER HIGHLIGHTS
- Net earnings of $98.1 million ($0.91 per share), up 21.0%
- Adjusted net earnings(1) of $88.7 million, up 5.5%
- Adjusted fully diluted net earnings per share(1) of $0.82, up 7.9%
- Sales of $2,645.0 million, up 1.7%
- Declared dividend per share of $0.17, up 23.6%
(Montréal, January 26, 2010) —
METRO INC. (TSX: MRU.A) realized net earnings of $98.1 million in
the first quarter of 2010, ended December 19, 2009, an increase of
21.0% over last year, and fully diluted net earnings per share of
$0.91, an increase of 24.7% over $0.73 last year.
Excluding a non-recurring tax expense decrease of $10.0 million
recorded in the first quarter of 2010, as well as non-recurring
costs recorded in the first quarters of 2010 and 2009 to convert
our Ontario supermarkets to the Metro banner, adjusted net
earnings(1) for the first quarter of 2010 were $88.7
million, up 5.5% from $84.1 million last year, and adjusted
fully diluted net earnings per share(1) were $0.82, up
7.9% from $0.76 last year.
“We are pleased with our first quarter results which improved
on last year’s excellent first quarter. Customer count continued to
rise, but our basket size was smaller than last year as we
experienced deflation in certain product categories. The economic
environment remains challenging, however we are well-positioned in
our markets and confident(2) that we will continue our
growth in 2010,” stated Eric R. La Flèche, President and Chief
Executive Officer.
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