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Monro Muffler Brake Earnings Summary

Nick Lazich

Monro Muffler Brake (NASDAQ: MNRO) on Thursday announced its fourth quarter results for the fiscal year of 2014.

Monro Muffler Brake reported an increase in fiscal sales for the quarter of 3.7 percent to a record of $203.2 million as compared to $195.9 million for the fourth quarter of fiscal 2013.

Revenue was less than what the Street estimated it to be of $206.55 million. Management cites the sales increase for the fourth quarter was due primarily to an increase in sales from newly acquired stores, offset by a comparable store sales decrease of 1.3 percent.

Monro Muffler Brake reported earnings for the fourth quarter gave a net income of $11.9 million, an increase of 46.5 percent from $8.1 million from the same quarter last year. Earnings-per-share were $0.36/share, which exceeded management's expectation of $0.32/share-$0.35/share and the Street's expectation of $0.35.

Management says that based on current visibility, business and economic trends and the acquisitions expected to be completed in its first quarter, the company anticipates fiscal 2015 sales to be between $875 and $905 million. Fiscal 2015 diluted earnings per share are expected to be in the range of $1.95 to $2.15, an increase of 17 percent to 29 percent as compared to $1.67 diluted earnings per share in fiscal 2014. Management says the estimate is based on 32.8 million weighted average shares outstanding.

Monro Muffler Brake shares closed at $50.59 Wednesday, a slight decrease from its opening price of $50.80.

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