Monro Muffler Brake Inc. - Conference Presentation Calls

Monro Muffler Brake Inc. reported unaudited earnings results for the second quarter and six months ended September 26, 2009. For the second quarter of fiscal 2010, sales increased 13.9% to a record $136.6 million compared to $119.9 million for the second quarter of fiscal 2009. Sales were driven largely by continued strong in-store execution and effective advertising and marketing campaigns. Comparable store sales grew 7.4%, on top of a 4.5% comparable store sales increase in the second quarter of the prior year, and exceeded the company's previously estimated range of 5% to 7%. The total sales for the quarter included an increase in sales from new stores of $10.0 million. Operating income increased 27.3% to $17.5 million from $13.8 million in the prior year period. Net income increased 30.4% to a record $10.0 million from $7.7 million for the prior year period. Diluted earnings per share were $0.49. This compares to diluted earnings per share of $0.38 in the second quarter of fiscal 2009. Income before provision for income taxes was $16.16 million compared to $12.36 million for the same period last year. For the six months period, net sales increased 10.2% to a record $264.7 million from $240.3 million in the same period of the prior year. Net income increased 25.5% to a record $19.4 million, or $0.95 per diluted share, compared with $15.5 million, or $0.77 per share in the comparable period of fiscal 2009. Income before provision for income taxes was $31.29 million compared to $24.86 million for the same period last year. Operating income was $34.51 million compared to $27.72 million for the same period last year. Based on current visibility and business and economic trends, the company anticipates comparable store sales growth in the range of 6% to 8% for the third quarter of fiscal 2010. The company also expects diluted earnings per share for the third quarter to be in the range of $0.32 to $0.35, compared with $0.28 for the third quarter of fiscal 2009. For fiscal 2010, the company now anticipates comparable store sales growth in the range of 6% to 7% compared with its previously estimated range of 4% to 7%. The company now expects total fiscal 2010 sales in the range of $553 million to $563 million compared with its previously estimated range of $515 million to $530 million. The company raised its estimated range for fiscal 2010 diluted earnings per share to $1.44 to $1.48 from its previously estimated range of $1.35 to $1.45. The estimate is based on 20.6 million weighted average shares outstanding.

Monro Muffler Brake Inc. expected to Report Q3 2010 Results on January 18, 2010. This event was calculated by Capital IQ (Created on October 26, 2009).