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Tim Hortons Inc. Message Board

  • bluecheese4u bluecheese4u Feb 20, 2008 9:01 AM Flag

    Tim Hortons Inc. Announces 2007 Fourth Quarter & Year-End Results

    Tim Hortons Inc. Announces 2007 Fourth Quarter and Year-End Results
    Wednesday February 20, 7:00 am ET
    Operating income up 9.3% for the fourth quarter and 12.1% for the full year
    (All amounts in Canadian dollars)
    Financial & Sales Highlights ----------------------------
    ------------------------------------------------------------------------- Fourth Quarter Ended December 30, 2007 December 31, 2006 % Change ------------------------------------------------------------------------- Revenues $ 515.4 $ 466.5 10.5% Operating Income $ 116.2 $ 106.3 9.3% Effective Tax Rate 32.6% 34.1% Net Income $ 75.7 $ 67.9 11.5% Diluted Earnings Per Share $ 0.40 $ 0.35 14.3% Fully Diluted Shares 187.0 192.4 (2.8)% -------------------------------------------------------------------------
    ($ in millions except EPS. Fully diluted shares in millions. All numbers rounded)
    ------------------------------------------------------------------------- Fiscal Year Ended December 30, 2007 December 31, 2006 % Change ------------------------------------------------------------------------- Revenues $ 1,895.9 $ 1,659.5 14.2% Operating Income $ 425.1 $ 379.2 12.1% Effective Tax Rate 34.0% 28.0% Net Income $ 269.6 $ 259.6 3.8% Diluted Earnings Per Share $ 1.43 $ 1.40 2.1% Fully Diluted Shares 188.8 185.4 1.8% -------------------------------------------------------------------------
    ($ in millions except EPS. Fully diluted shares in millions. All numbers rounded)
    ------------------------------------------------------------------------- Same Store Sales Q4 2007 Q4 2006 2007 2006 Full Year Full Year ------------------------------------------------------------------------- Canada 3.4% 9.3% 5.9% 7.5% U.S. 4.2% 8.3% 4.1% 8.9% -------------------------------------------------------------------------
    Commencing in 2008, Canadian average same store sales will be calculated on a consistent basis with the U.S. average same-store sales methodology. This method calculates same-store sales based on including a restaurant beginning the 13th month after the restaurant's opening. This change will align same-store calculation methodologies between both markets and with industry practices.
    As of December 30, 2007, 98.9% of the Company's restaurants in Canada and 89.4% of the U.S. restaurants were franchised.
    Additional Highlights --------------------- - Fourth quarter systemwide sales(1) increased 7.9% - 119 new units opened in fourth quarter, 198 for full-year(2) - Board approves 28.6% increase in quarterly dividend to $0.09 per share, and declares 7th consecutive dividend - 2008 targets provided - Operating income growth of 10% - 120-140 new restaurants in Canada; 90-110 restaurants in the U.S.(2) - 2008 same-store sale targets of 4-6% established in Canada and 2-4% in the U.S. (refer to 2008 Targets and Outlook discussion below for further information)


    OAKVILLE, ON, Feb. 20 /PRNewswire-FirstCall/ - Tim Hortons Inc. (NYSE:THI, TSX: THI) today announced its results for the fourth quarter ended December 30, 2007.
    Systemwide sales(1) growth, which includes sales from Company-operated and Franchise restaurants, rose 7.9% in the quarter. Fourth quarter same store sales increased 3.4% in Canada and 4.2% in the U.S. Total revenues were $515.4 million in the fourth quarter, up 10.5% compared to $466.5 million in the same period last year. Net income was $75.7 million in the fourth quarter, increasing 11.5% compared to $67.9 million last year.



    For the fiscal year ended December 30, 2007, total revenues were approximately $1.9 billion, up 14.2% from about $1.7 billion in 2006. Operating income for the

    http://biz.yahoo.com/prnews/080220/to288.html?.v=60

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    • Tim Hortons Inc. Raises Quarterly Dividend Payments by 28.6%
      Wednesday February 20, 7:01 am ET
      Seventh Consecutive Dividend Declared


      OAKVILLE, ON, Feb. 20 /PRNewswire-FirstCall/ - Tim Hortons Inc. (NYSE:THI, TSX: THI) today announced the Board of Directors has approved a 28.6% increase in the quarterly dividend to $0.09 per share. The Board also declared the seventh consecutive dividend.

      The dividend is payable on March 17th, 2008 to shareholders of record as of March 3rd, 2008. The Company's current dividend policy is to pay 20-25% of prior year, normalized net earnings. The declaration of future dividends continues to be subject to the discretion of the Company's Board of Directors.

      Dividends are paid in Canadian dollars to all shareholders with Canadian resident addresses whose shares are registered with Computershare (the Company's transfer agent). For all other shareholders, including all shareholders who hold their shares indirectly (i.e., through their broker) and regardless of country of residence, the dividend will be converted to U.S. dollars on March 10th, 2008 at the daily noon rate established by the Bank of Canada and paid in U.S.

      http://biz.yahoo.com/prnews/080220/to289.html?.v=64

 
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