Crumbs Bake Shop, Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Announces Loss on Impairment of Assets for the Fourth Quarter Ended December 31, 2013
March 19, 2014 at 08:34 pm
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Crumbs Bake Shop, Inc. reported consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported net sales of $11,352,000 compared to $10,776,000 a year ago. Loss from operations was $5,880,000 compared to $6,318,000 a year ago. Loss before income tax benefit was $5,775,000 compared to $6,424,000 a year ago. Net loss attributable to stockholders was $4,842,000 or $0.42 per basic and diluted share compared to $5,361,000 or $0.49 per basic and diluted share a year ago. Adjusted LBITDA was $2,663,000 compared to $1,810,000 a year ago.
For the year, the company reported net sales of $47,203,000 compared to $43,029,000 a year ago. Loss from operations was $15,396,000 compared to $10,537,000 a year ago. Loss before income tax benefit was $15,843,000 compared to $10,353,000 a year ago. Net loss attributable to stockholders was $15,261,000 or $0.132 per basic and diluted share compared to $7,695,000 or $1.12 per basic and diluted share a year ago. Adjusted LBITDA was $9,901,000 compared to $3,701,000 a year ago.
For the quarter, the company reported loss on impairment of assets of $1,322,000 compared to $1,869,000 a year ago.
Crumbs Bake Shop, Inc. (CBS) is engaged in the business of selling a wide variety of cupcakes, cakes, cookies and other baked goods, as well as hot and cold beverages. The Company offers these products through its stores, e-commerce division, catering services and wholesale distribution business. It operates through its subsidiary, Crumbs Holdings LLC. The Company sells its products primarily through its Company-operated stores and online at www.crumbs.com. The Company offers a variety of high-quality baked goods. The Crumbs Website offers a variety of cupcakes in two sizes, its Signature Size and Taste Size. Crumbsâ cupcakes are frozen, placed in attractive, specially designed packaging and shipped in insulated containers with dry ice.
Crumbs Bake Shop, Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Announces Loss on Impairment of Assets for the Fourth Quarter Ended December 31, 2013