The Pep Boys � Manny, Moe & Jack (NYSE:PBY), the nation's
leading automotive aftermarket retail and service chain, announced
today that it had reached a settlement, subject to court approval,
of three pending actions (the earliest of which was filed in 2002)
involving various wage and hour claims for an aggregate amount of
$4,550,000. The charge will be recorded in the Company's third
quarter, which ended October 28, 2006, and will revise the recently
announced third quarter results by $2,992,000 ($0.06 per share �
basic and diluted) to a Net Loss from Continuing Operations Before
Cumulative Effect of Change in Accounting Principle of $10,713,000
($0.20 per share - basic and diluted). The charge will also change
the previously announced Operating Profit to an Operating Loss of
$1,349,000 and EBITDA to $20,594,000. Set forth below are revisions
of the Company's Financial Highlights and EBITDA Reconciliation
included in the previously announced third quarter fiscal 2006
results. Revised supplemental financial information is available on
the Company�s Web site at www.pepboys.com. The revisions will be
reflected in the Company's third quarter Form 10-Q to be filed by
December 7, 2006. � Pep Boys Financial Highlights � � Thirteen
Weeks Ended: October 28, 2006 October 29, 2005 � Total Revenues $
550,849,000� $ 545,904,000� � Net Loss From Continuing Operations
Before Cumulative Effect of Change in Accounting Principle $
(10,713,000) $ (11,376,000) � Average Shares � Basic and Diluted
54,313,000� 54,774,000� � Basic and Diluted Loss Per Share from
Continuing Operations Before Cumulative Effect of Change in
Accounting Principle $ (0.20) $ (0.21) � � � Thirty-nine Weeks
Ended: October 28, 2006 October 29, 2005 � Total Revenues $
1,686,015,000� $ 1,687,548,000� � Net Loss From Continuing
Operations Before Cumulative Effect of Change in Accounting
Principle $ (10,110,000) $ (12,930,000) � Average Shares � Basic
and Diluted 54,264,000� 55,288,000� � Basic and Diluted Loss Per
Share from Continuing Operations Before Cumulative Effect of Change
in Accounting Principle $ (0.19) $ (0.23) EBITDA Reconciliation
EBITDA is defined as Net Loss plus Interest Expense, minus Income
Tax Benefit, plus Depreciation and Amortization. EBITDA is not a
measurement of financial performance under generally accepted
accounting principles and may not be compared to similarly
captioned information reported by other companies. In addition, it
does not replace net income or cash flow from operations as an
indicator of financial performance or liquidity. We believe EBITDA
provides a useful indicator of levels of our financial performance
and is frequently used by securities analysts, investors and other
interested parties in the evaluation of companies in our industry.
A reconciliation of EBITDA for the thirteen and thirty-nine weeks
ended October 28, 2006 and October 29, 2005, respectively, to the
most directly comparable GAAP measure in accordance with SEC
Regulation G follows: � Thirteen Weeks Ended: October 28, 2006
October 29, 2005 � Net Loss $ (10,914,000) $ (11,195,000) �
Interest Expense 15,581,000� 9,205,000� � Income Tax Benefit
(5,200,000) (5,856,000) � Depreciation and Amortization �
21,127,000� � 20,628,000� � EBITDA $ 20,594,000� $ 12,782,000� � �
� Thirty-nine Weeks Ended: October 28, 2006 October 29, 2005 � Net
Loss $ (10,265,000) $ (12,927,000) � Interest Expense 37,886,000�
27,354,000� � Income Tax Benefit (4,600,000) (7,212,000) �
Depreciation and Amortization � 62,546,000� � 59,283,000� � EBITDA
$ 85,567,000� $ 66,498,000� Pep Boys has 593 stores and more than
6,000 service bays in 36 states and Puerto Rico. Along with its
vehicle repair and maintenance capabilities, the Company also
serves the commercial auto parts delivery market and is one of the
leading sellers of replacement tires in the United States.
Customers can find the nearest location by calling 1-800 -PEP-BOYS
or by visiting pepboys.com. Certain statements contained herein
constitute "forward-looking statements" within the meaning of The
Private Securities Litigation Reform Act of 1995. The word
"guidance," "expect," "anticipate," "estimates," "forecasts" and
similar expressions are intended to identify such forward-looking
statements. Forward-looking statements include management's
expectations regarding future financial performance, automotive
aftermarket trends, levels of competition, business development
activities, future capital expenditures, financing sources and
availability and the effects of regulation and litigation. Although
the Company believes that the expectations reflected in such
forward-looking statements are based on reasonable assumptions, it
can give no assurance that its expectations will be achieved. The
Company's actual results may differ materially from the results
discussed in the forward-looking statements due to factors beyond
the control of the Company, including the strength of the national
and regional economies, retail and commercial consumers' ability to
spend, the health of the various sectors of the automotive
aftermarket, the weather in geographical regions with a high
concentration of the Company's stores, competitive pricing, the
location and number of competitors' stores, product and labor costs
and the additional factors described in the Company's filings with
the SEC. The Company assumes no obligation to update or supplement
forward-looking statements that become untrue because of subsequent
events. The Pep Boys - Manny, Moe & Jack (NYSE:PBY), the
nation's leading automotive aftermarket retail and service chain,
announced today that it had reached a settlement, subject to court
approval, of three pending actions (the earliest of which was filed
in 2002) involving various wage and hour claims for an aggregate
amount of $4,550,000. The charge will be recorded in the Company's
third quarter, which ended October 28, 2006, and will revise the
recently announced third quarter results by $2,992,000 ($0.06 per
share - basic and diluted) to a Net Loss from Continuing Operations
Before Cumulative Effect of Change in Accounting Principle of
$10,713,000 ($0.20 per share - basic and diluted). The charge will
also change the previously announced Operating Profit to an
Operating Loss of $1,349,000 and EBITDA to $20,594,000. Set forth
below are revisions of the Company's Financial Highlights and
EBITDA Reconciliation included in the previously announced third
quarter fiscal 2006 results. Revised supplemental financial
information is available on the Company's Web site at
www.pepboys.com. The revisions will be reflected in the Company's
third quarter Form 10-Q to be filed by December 7, 2006. -0- *T Pep
Boys Financial Highlights Thirteen Weeks Ended: October 28, 2006
October 29, 2005 ----------------------------------
---------------- ---------------- Total Revenues $ 550,849,000 $
545,904,000 Net Loss From Continuing Operations Before Cumulative
Effect of Change in Accounting Principle $ (10,713,000) $
(11,376,000) Average Shares - Basic and Diluted 54,313,000
54,774,000 Basic and Diluted Loss Per Share from Continuing
Operations Before Cumulative Effect of Change in Accounting
Principle $ (0.20) $ (0.21) Thirty-nine Weeks Ended: October 28,
2006 October 29, 2005 ----------------------------------
---------------- ---------------- Total Revenues $ 1,686,015,000 $
1,687,548,000 Net Loss From Continuing Operations Before Cumulative
Effect of Change in Accounting Principle $ (10,110,000) $
(12,930,000) Average Shares - Basic and Diluted 54,264,000
55,288,000 Basic and Diluted Loss Per Share from Continuing
Operations Before Cumulative Effect of Change in Accounting
Principle $ (0.19) $ (0.23) *T EBITDA Reconciliation EBITDA is
defined as Net Loss plus Interest Expense, minus Income Tax
Benefit, plus Depreciation and Amortization. EBITDA is not a
measurement of financial performance under generally accepted
accounting principles and may not be compared to similarly
captioned information reported by other companies. In addition, it
does not replace net income or cash flow from operations as an
indicator of financial performance or liquidity. We believe EBITDA
provides a useful indicator of levels of our financial performance
and is frequently used by securities analysts, investors and other
interested parties in the evaluation of companies in our industry.
A reconciliation of EBITDA for the thirteen and thirty-nine weeks
ended October 28, 2006 and October 29, 2005, respectively, to the
most directly comparable GAAP measure in accordance with SEC
Regulation G follows: -0- *T Thirteen Weeks Ended: October 28, 2006
October 29, 2005 ----------------------------------
---------------- ---------------- Net Loss $ (10,914,000) $
(11,195,000) Interest Expense 15,581,000 9,205,000 Income Tax
Benefit (5,200,000) (5,856,000) Depreciation and Amortization
21,127,000 20,628,000 ---------------- ---------------- EBITDA $
20,594,000 $ 12,782,000 ================ ================
Thirty-nine Weeks Ended: October 28, 2006 October 29, 2005
---------------------------------- ----------------
---------------- Net Loss $ (10,265,000) $ (12,927,000) Interest
Expense 37,886,000 27,354,000 Income Tax Benefit (4,600,000)
(7,212,000) Depreciation and Amortization 62,546,000 59,283,000
---------------- ---------------- EBITDA $ 85,567,000 $ 66,498,000
================ ================ *T Pep Boys has 593 stores and
more than 6,000 service bays in 36 states and Puerto Rico. Along
with its vehicle repair and maintenance capabilities, the Company
also serves the commercial auto parts delivery market and is one of
the leading sellers of replacement tires in the United States.
Customers can find the nearest location by calling 1-800 -PEP-BOYS
or by visiting pepboys.com. Certain statements contained herein
constitute "forward-looking statements" within the meaning of The
Private Securities Litigation Reform Act of 1995. The word
"guidance," "expect," "anticipate," "estimates," "forecasts" and
similar expressions are intended to identify such forward-looking
statements. Forward-looking statements include management's
expectations regarding future financial performance, automotive
aftermarket trends, levels of competition, business development
activities, future capital expenditures, financing sources and
availability and the effects of regulation and litigation. Although
the Company believes that the expectations reflected in such
forward-looking statements are based on reasonable assumptions, it
can give no assurance that its expectations will be achieved. The
Company's actual results may differ materially from the results
discussed in the forward-looking statements due to factors beyond
the control of the Company, including the strength of the national
and regional economies, retail and commercial consumers' ability to
spend, the health of the various sectors of the automotive
aftermarket, the weather in geographical regions with a high
concentration of the Company's stores, competitive pricing, the
location and number of competitors' stores, product and labor costs
and the additional factors described in the Company's filings with
the SEC. The Company assumes no obligation to update or supplement
forward-looking statements that become untrue because of subsequent
events.
Prospect Capital Corpora... (NYSE:PBY)
Historical Stock Chart
From Jun 2024 to Jul 2024
Prospect Capital Corpora... (NYSE:PBY)
Historical Stock Chart
From Jul 2023 to Jul 2024