Calloway's Nursery Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2012
August 07, 2012 at 01:00 pm EDT
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Calloway's Nursery Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2012. For the quarter, the company reported net revenue of $17.6 million, income before provision for income taxes of $2.2 million and net income of $1.4 million or $0.17 per basic and diluted share against net revenue of $18.7 million, income before provision for income taxes of $2.5 million and net income of $1.6 million or $0.21 per basic and diluted share for the same period a year ago.
For the six months, the company reported net revenue of $29.8 million, income before provision for income taxes of $3.2 million and net income of $2.1 million or $0.26 per basic and diluted share against net revenue of $31.1 million, income before provision for income taxes of $3.6 million and net income of $2.4 million or $0.31 per basic and diluted share for the same period a year ago. Net cash provided by operating activities was $2.9 million against $3.9 million for the same period a year ago. Additions to property and equipment were $0.058 million against $0.015 million for the same period a year ago.
Calloway's Nursery, Inc. is a garden center. The Company is engaged in the sales of living plants and related products, pottery, home decor and seasonal merchandise to individual consumers in its physical garden center retail stores. It offers landscape design services to individual consumers, landscape installation services to individual consumers and precision maintenance services to individual consumers. It operates over 27 retail garden centers in the two metropolitan areas in Texas: Dallas-Fort Worth (as Calloway's Nursery) and Houston (as Cornelius Nursery). Its products include birding, Cornelius home decor, fertilizers, garden tools, gift cards, insect and pest control, lawn decor, mosquito control solutions, pottery, soils and mulches and weed control and fungicide. Its plants and flowers include annuals, bulbs, dwarfs, edibles, ferns, grasses and others. Its subsidiary is Cornelius Nurseries, Inc., which owns the Cornelius Nursery retail store property in the Houston market.