SpartanNash Company (SPTN) swung to a net profit for the quarter ended Jan. 03, 2015. The company has made a net profit of $11.87 million, or $ 0.32 a share in the quarter, against a net loss of $14.76 million, or $0.49 a share in the last year period.
Revenue during the quarter surged 73.90 percent to $1,962.59 million from $1,128.55 million in the previous year period. Gross margin for the quarter contracted 192 basis points over the previous year period to 14.38 percent. Operating margin for the quarter period stood at positive 1.07 percent as compared to a negative 1.16 percent for the previous year period.
Operating income for the quarter was $21.01 million, compared with an operating loss of $13.08 million in the previous year period.
"We are very pleased with our year-end results and the progress we have made in the first year of operations as SpartanNash," stated Dennis Eidson, SpartanNash's president and chief executive officer. "We returned our Michigan supermarkets to positive comparable store sales growth, delivered better than expected adjusted earnings from operations and achieved key integration milestones."
Debt comes down
SpartanNash Company has recorded a decline in total debt over the last one year. It stood at $570.27 million as on Jan. 03, 2015, down 5.84 percent or $35.40 million from $605.66 million on Dec. 28, 2013. Debt to equity ratio was at 0.76 as on Jan. 03, 2015, down from 0.86 as on Dec. 28, 2013. Interest coverage ratio improved to 3.50 for the quarter from 3.27 for the same period last year.
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