SEATTLE, WA – Bill the Butcher, Inc., a leading retailer of organic and natural, grass-fed meats, today reported its financial results for the month of December 2010. Revenues for the company's six stores currently in operation were $271,270. Gross profit for the month of December was $119,116, or 44%. Net loss for the month was $79,606.
"December 2010 was one of the higher revenue and gross margin months for Bill the Butcher. As we expand the number of stores and scale our business, we expect gross margins to cover more of our general and administrative expenses, thus improving our cash flows and positioning us for future profitability. We are particularly pleased with the margins we are achieving and anticipate maintaining gross margins in forty percent range," stated Bill the Butcher CEO, J'Amy Owens.
About Bill the Butcher, Inc.
Seattle-based Bill the Butcher, Inc. sells organic, grass fed and natural meats through corporate-owned neighborhood butcher shops. The Company works directly with local ranchers and farmers, who follow sustainable and organic practices, to deliver the highest quality meat that is healthiest for consumers while being good for the environment. Founded in 2009, Bill the Butcher is publicly traded under the symbol (OTCBB: BILB). Learn more at http://www.billthebutcher.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933, including, but not limited to, statements related to our expansion plans and anticipated revenue growth and future profitability. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors, including our ability to raise additional capital to fund our business and continue as a going concern; our ability to successfully implement our growth plan; our dependence on the financial performance of stores located in one geographic area; our ability to identify favorable sites for future stores and to obtain leases for new stores and our new commissary on acceptable terms; our ability to improve store sales and margins; and uncertainties related to expansion into new geographic markets. These and other factors that could cause future results to materially differ from our recent results or those projected in our forward-looking statements are described under the caption "Risk Factors" and elsewhere in our Annual Report on Form 10-K/A and in our other periodic reports filed with the Securities and Exchange Commission. You should not rely unduly on these forward-looking statements, which apply only as of the date of this release. We undertake no duty to publicly announce or report revisions to these statements as new information becomes available that may change our expectations.
Source: Bill the Butcher, Inc.
