U-Swirl, Inc. Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended August 31, 2015
October 13, 2015 at 02:38 pm EDT
Share
U-Swirl, Inc. reported UNAUDITED earnings results for the second quarter and six months ended August 31, 2015. For the quarter, the company reported total revenues of $2,071,000 compared with $2,492,000 for the same period last year. Income from operations was $760,000 compared with $93,000 for the same period last year. Income before income taxes was $755,000 compared with $86,000 for the same period last year. Net income was $755,000 or $0.03 diluted per share compared with $86,000 for the same period last year. Non-GAAP, adjusted EBITDA was $622,000 compared with $744,000 for the same period last year. Net sales decrease was primarily due to the closure or sale of certain Company-owned locations in the prior fiscal year.
For the six months, the company reported total revenues of $4,179,000 compared with $24,993,000 for the same period last year. Income from operations was $1,110,000 compared with $473,000 for the same period last year. Income before income taxes was $1,100,000 compared with $463,000 for the same period last year. Net income was $1,100,000 or $0.05 diluted per share compared with $463,000 or $0.01 diluted per share for the same period last year. Non-GAAP, adjusted EBITDA was $1,188,000 compared with $1,381,000 for the same period last year.
U-Swirl, Inc. is engaged in providing frozen yogurt. The Company offers U-Swirl Frozen Yogurt concept, which offers guests with a choice in frozen yogurt by providing an assortment of non-fat and low-fat flavors, including tart, traditional and no sugar-added (NSA) options and various toppings, including seasonal fresh fruit, sauces, candy and granola. The Company offers a menu to search for flavors, sort columns, and check nutritional information and ingredients. The Company offers Nonfat Frozen Yogurt, Original Tart Frozen Yogurt, Greek Nonfat Frozen Yogurt, Lowfat Frozen Yogurt, Premium Frozen Yogurt, NSA Frozen Yogurt, Frozen Custard and Non-Dairy Sorbet. As of August 31, 2015, the Company had nine Company-owned cafes and 243 franchised cafes. The Company's U-Swirl-n-Go Store franchises are limited-product stores within non-traditional locations, such as convenience stores, airports, hotels and other mass gathering areas. The Company's subsidiary is U-Swirl International, Inc.
U-SWIRL, INC. 
