Last $31.89 USD
Change Today +0.39 / 1.24%
Volume 205.9K
BNNY On Other Exchanges
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Stuttgart
As of 8:04 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

annie's inc (BNNY) Key Developments

Annie's, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended June 30, 2014; Provides Earnings Guidance for the Second Quarter of 2014 and Reaffirms Earnings Guidance for the Full Year of Fiscal 2015

Annie's, Inc. announced unaudited consolidated earnings results for the first quarter ended June 30, 2014. For the first quarter, the company's reported net sales of $43.3 million, up 10.1% year-over-year sales of $39.318 million a year ago. Sales related to planned contract manufacturing revenues associated with the Joplin acquisition contributed year-over-year growth of $2.0 million, or 5.2%. Adjusted EBITDA for the quarter was approximately breakeven, compared to $4.6 million in last year's first quarter. Net loss for the quarter was $1.2 million, or $0.07 per diluted share, compared to net income of $2.2 million, or $0.13 per diluted share in the first quarter of fiscal 2014. Adjusted net loss was $1.1 million, or $0.06 per share, compared to adjusted net income of $2.4 million, or $0.14 per share, in the first quarter of fiscal 2014. Loss from operations was $1.948 million against income from operations of $3.676 million a year ago. Loss before benefit from income taxes was $2.024 million against income before provision for income taxes of $3.631 million a year ago. Net cash used in operating activities was $8.260 million against net cash provided by operating activities of $3.142 million a year ago. Purchase of property and equipment was $1.221 million against $0.272 million a year ago. LBITDA was $1.387 million against EBITDA of $4.011 million a year ago. The company expect second quarter earnings to decline year-over-year, but to a lesser degree than the first quarter For the second half, the company continues to expect strong earnings growth in the second half as the benefit from mid-year pricing actions and strong productivity gains. As a result, the company reaffirming guidance for the adjusted net sales growth of 18% to 20% and adjusted diluted EPS of $0.88 to $0.95.

Annie's, Inc. to Report Q1, 2015 Results on Aug 07, 2014

Annie's, Inc. announced that they will report Q1, 2015 results at 5:00 PM, Eastern Standard Time on Aug 07, 2014

Annie's, Inc., Q1 2015 Earnings Call, Aug 07, 2014

Annie's, Inc., Q1 2015 Earnings Call, Aug 07, 2014

Law Offices of Howard G. Smith Announces Class Action Lawsuit Against Annie's, Inc

Law Offices of Howard G. Smith announced that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of all purchasers of the securities of Annie's, Inc. between August 8, 2013 and June 3, 2014, inclusive (the Class Period). The Complaint alleged that defendants misrepresented and/or failed to disclose material adverse facts about the Company's operations and financial performance, including that: (1) the company's historical methodology for estimating certain trade allowances did not include all related trade promotion costs; (2) the company's controls over accounting for contract manufacturing did not sufficiently evaluate the valuation and accuracy of all contract manufacturing receivables and payables; (3) the company had a material weakness in its ability to detect misstatements as a result of its insufficient controls; and (4) as a result of its inadequate internal and financial controls, the company's financial statements were materially false and misleading at all relevant times.

Annie's Inc. Appoints KPMG LLP as New Independent Registered Public Accounting Firm

On July 10, 2014, the Audit Committee of the Board of Directors of Annie's Inc. approved the appointment of KPMG LLP as the Company's new independent registered public accounting firm, effective immediately.

 

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