Natural Grocers by Vitamin Cottage, Inc. reported unaudited consolidated earnings results for the first quarter ended December 31, 2013. During the first quarter of fiscal year 2014, net sales increased $24.8 million, or 25.8% over the same period in fiscal year 2013 to $120.6 million due to a $14.6 million increase in sales from new stores and a $10.2 million, or 10.6%, increase in comparable store sales. Net income increased 31.6% to $2.9 million compared to the same period in fiscal year 2013 with diluted earnings per share of $0.13 in the first quarter of fiscal year 2014. EBITDA increased $2.6 million, or 38.1%, to $9.4 million, or 7.8% of sales, for the first quarter of fiscal year 2014 compared to the same period in fiscal year 2013. During the first quarter of fiscal year 2014, the company generated $5.3 million in cash from operations and invested $7.7 million in capital expenditures primarily for new stores. Operating income was $5.430 million against $3.789 million a year ago. Income before income taxes was $4.724 million against $3.536 million a year ago. Net cash provided by operating activities was $5.310 million against $2.340 million a year ago. Acquisition of property and equipment was $7.684 million against $8.825 million a year ago.

The company provided earnings guidance for the full year of fiscal 2014. For the period, the company expects diluted earnings per share to be in the range of $0.58 to $0.63 and capital expenditures were $35 million to $37 million.