SAN ANTONIO- Tootie Pie Company, Inc. reported sales jumped 26% to $612,452, for the quarter ending June 30, 2012, versus $486,151 for same period in 2011.
EBITDA (and other non cash items) amounted to a loss of $51,427 for the period, versus an EBITDA (and other non cash items) loss of $140,647 for the same period in 2011; a 63% improvement.
"We continue to see solid sales growth and improvement to our bottom line," reported Don L. Merrill Jr., President & CEO. "A small cash flow loss while building inventory during the summer months brings us one big step closer to our goal of profitability."
"So, we bring on all these Cafes; jump revenues every quarter since our first Cafe, and now we're seeing the results impact our bottom line dramatically" added Merrill. "I know I am happy about all this. I trust there is someone else out there who appreciates it too."
About Tootie Pie Co.
Tootie Pie Company bakes and sells high-quality, handmade pies through three basic sales channels: retail, corporateand wholesale. The retail segment serves individual customers through sales in its Tootie Pie Gourmet Cafes, in-store sales, orders via telephone and internet on the Company's website. The corporate segment serves businesses that purchase pies as a way to promote their company through client and employee appreciation programs. The wholesale segment is made up of national and regional broad line grocery and foodservice distributors who purchase pies and thenresell them through their respective sales distribution channels. Tootie Pie Company is a public company traded on the OTCQB market under the symbol "TOOT." For additional information or to receive correspondence from Tootie Pie Company, please visit www.tootiepieco.com.
Forward-Looking Statements
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," and "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file with the U.S. Securities and Exchange Commission (SEC).
Source: Tootie Pie Co.
