Sportscene Group Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended May 31, 2015. For the quarter, the company recorded a 10.4% decline in La Cage aux Sports' total network sales and achieved net earnings of CAD 0.2 million or CAD 0.05 per diluted share, compared with net earnings of CAD 1.4 million or CAD 0.32 per diluted share for the same quarter of 2014. Adjusted EBITDA amounted to CAD 1.4 million, compared with CAD 2.7 million for the same quarter of the previous year, due to a decrease in same- Cage sales combined with the costs related to the strategic shift. In addition, quarterly results were negatively impacted by external factors including a persistently harsh economic environment for the restaurant industry and a less exciting sporting context than in 2014. Revenues were CAD 21,705,000 compared to CAD 20,366,000 a year ago. Earnings before financial expenses, amortization, and share of net loss (income) of joint ventures and associates and income tax were CAD 1,420,000 compared to CAD 2,653,000 a year ago. Income before income tax expenses was CAD 232,000 compared to CAD 1,838,000 a year ago.

For the first nine months of fiscal 2015, total network sales decreased by 7.1% to CAD 80.8 million. However, the company's revenues increased by 4.8% to CAD 58.7 million, thanks mainly to activities other than the operation of the La Cage aux Sports network, namely the sale of branded products in grocery stores, the organization of sporting events and the renovation of Cages. Adjusted EBITDA totalled CAD 3.2 million, compared with CAD 6.3 million for the same period of the previous year, due to the aforementioned factors. Sportscene therefore closed the period with a net loss of CAD 0.2 million or CAD 0.03 per diluted share, compared with net earnings of CAD 3.0 million or CAD 0.71 per diluted share for the previous year. Earnings before financial expenses, amortization, and share of net loss (income) of joint ventures and associates and income tax were CAD 3,416,000 compared to CAD 6,267,000 a year ago. Loss before income tax expenses was CAD 219,000 compared to income before income tax expenses of CAD 3,885,000 a year ago.